Mobile Payments

PYMNTS Daily Data Dive: MCX's CurrentC Pivot

What's next for MCX and its CurrentC mobile payments product?

Well, according to a statement released by MCX CEO Brian Mooney late yesterday (May 16), via their PR rep, MCX and its CurrentC mobile payments product is folding its tent. But it's not the end for the company.

The decision, said the written statement, was the result of feedback from its CurrentC pilot and their need to focus on “other priorities,” including its work with Chase and Chase Pay.

"As part of this transition, MCX will postpone a nationwide rollout of its CurrentC application. As MCX has said many times, the mobile payments space is just beginning to take shape – it is early in a long game. MCX’s owner-members remain committed to our future," Mooney wrote.

Since MCX launched its vision for CurrentC, the company has also touted some big numbers. As part of PYMNTS' 5-in-1 Daily Data Dive, we've gathered up a few of those.

$1 Trillion | The number MCX claimed that its merchant membership collectively drove in sales annually.

110,000 | The number of merchant locations MCX claimed it would be available at when the mobile wallet solution fully launched.

63 | The number of merchants MCX has listed on its website as its participating merchants.

45 | The number of months since MCX, the merchant consortia, formed with the intention of creating a mobile-only, merchant-owned payments scheme.

30 | The rough number of people MCX announced it will be laying off as result of the recently announced changes.



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