Apple Pay might have all of the hype behind it, but CurrentC from the Merchant Customer Exchange (MCX), has a wider potential user base. In addition, CurrentC can also work with a client store's customer loyalty program, but mobile users will be unable to collect credit card perks. The service also works with any Google Android smartphone or Apple iPhone, while rival Apple Pay only is available to Apple iPhone 6 and iPhone 6 Plus owners.
However, news of being hacked, even with no customer payment data at risk, won't help attract users to the growing service. Interested consumers won't need to provide their driver's license or Social Security numbers, which is a growing concern as consumers are worried about mounting identity theft and data breach cases.
The service also has a strong backing by more than 50 major US retailers, with others expected to jump on the bandwagon in 2015. "When merchants join us, they have a choice... they can't have Apple Pay or Google Wallet until their exclusivity expires," said Scott Rankin, MCX chief operating officer.