Lets' resolve this kerfuffle. As I see it, CurrentC is a private network, charging no or low interchange to its merchants. It's a pure interchange avoidance play; any share gains by merchants (competing and/or others) is a bonus. For private label users who segregate spend and/or are not eligible for general purpose plastic, this may work -- especially if the merchants offer incentives. With no category ownership afforded to CurrentC merchants, loyalty will be something that has to be generated by the individual merchants themselves. Plenti, by virtue of category exclusivity and (some level of) data sharing and cooperation across merchant categories, is more of a pure coalition loyalty play. On the surface, the all-in cost of acceptance for the merchant rises (to pay for Plenti's currency). The proof for Plenti will be in the share gains!