Are we being myopic? Payment pros, techies, and insiders look at the market completely differently than retailers. Retailers hate/hate/hate merchant fees, and they are willing to pay to get rid of them (as long as they control what replaces it). MCX and CurrentC are merely the latest song with that tune (NACHA tried something similar which tanked). I wouldn't count CurrentC out yet. If Walmart (and Kroger, and ExxonMobil etc) paid me 5% to use CurrentC, I might use it, and--unless you are simply holding out on principle--so would you.

Oh, and the "hack" was a test database which had some beta tester emails in it. I wouldn't call that a full-fledged breach, although it's a black eye.

This could very well turn out better for consumers. Yay for competition.