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.

——————————

LIVE PYMNTS TV OCTOBER SERIES: POWERING THE DIGITAL SHIFT – B2B PAYMENTS 2021 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment

TRENDING RIGHT NOW