CurrentC app could be delayed until next year
CurrentC, the mobile payment app backed by MCX, may be delayed until next year. A group of major retailers including 7-Eleven, Alon Brands, and Best Buy had announced a joint venture&nbsp;to develop a merchant-owned mobile payment called CurrentC system in 2012; however, since then, Apple Pay has developed at a quicker rate and CurrentC's delayed release will only make it more difficult for it to compete with the Apple offering.
The app is backed by the consortium known as MCX, a group that includes 7-Eleven, Alon Brands, Best Buy, CVS Health, Darden Restaurants; HMSHost, Hy-Vee, Lowe's, Michaels, Publix, Sears Holdings, Shell Oil Products US, Sunoco, Target Corporation and Walmart.MCX CEO Brian Mooney says an initial pilot will launch in Columbus, Ohio next month, but the group will not rush the global rollout.Mooney said.CurrentC is very different than apps like Apple Pay (and soon, Samsung Pay and Android Pay) as the app does not allow you to link your credit/debit cards. You can either hook up your checking account, use a store gift card, or attach the retailer's private-label payment cards.Unfortunately for the group, CurrentC might already be dead on arrival. Two key members, Best Buy and Rite Aid, will begin accepting Apple Pay later this year after an exclusivity period ends with CurrentC.