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MCX preps CurrentC mobile commerce network in US

US mobile commerce joint venture Merchant Customer Exchange (MCX), which is backed by several major US merchants, has unveiled its CurrentC mobile commerce payment network, with plans for a commercial launch in 2015.

A mobile phone showing the MCX wallet

MCX is preparing for an official commercial launch

MCX was established in 2012 by major merchants including Target and Wal-Mart and is centred around a mobile wallet enabling consumers to make in-store payments with their handsets. MCX is working with industry partners FIS, Gemalto and Paydiant to enable customers to make payments at around 110,000 merchant locations across the US.

Users will be able to link their current accounts, as well as gift cards and branded debit and credit accounts, to the app. They can then make payments at the POS by scanning barcodes with their handsets. MCX states that barcodes can be easily integrated into existing POS systems as opposed to NFC BLE payments. CurrentC apps will be made available on both the iOS and Android operating system platforms. However, participating merchants can also integrate the technology into their own apps.

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