Merchant Customer Exchange (MCX) is set to launch is own mobile payment service. We heard about this almost two years ago, hoping to make an alternative to NFC payments which have been cancelled for some time. We had no idea then when the group would be introducing the mobile payment strategy but unfortunately, MCY is postponing its plans for the CurrentC. That’s ironic because that would mean the CurrentC is no longer current, if and when the group decides to launch the service.
The idea of going against Android Pay or Apple Pay was something big and ambitious. You can’t easily do it especially if you’re a small player but we know the people behind the MCX mobile payment system must have carefully thought about it. The project is still a go but will be delayed a bit. The company is also sharing some bad news as it’s laying off some 30 employees so they will be able to focus and work with other financial groups.
Brian Mooney, CEO at MCX said that they would forge ahead of possible partnerships. For one, MCX is partnering with a big company like Chase. It’s not that numbers are bad. MCX simply needs more resources to be able to achieve some goals and reducing staff is the only way.
We heard of the CurrentC in 2014 but it was again postponed in 2015. This year, we’re hoping that the goal will finally be achieved even if delayed. We’re also not surprised about this development because the service was hacked earlier and that the company behind it, Paydiant, was acquired by PayPal in 2015. We’re still curious if, when, and how MCX will still be working on this one.
VIA: TechCrunch
