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CurrentC, an Apple Pay rival, is scheduled to launch next month

Have you tried mobile payments yet?

By: Michael Hatamoto from Jul 26, 2015 @ 21:26 CDT

It may have taken more than three years, but it looks like the Merchant Customer Exchange's CurrentC mobile payment platform could launch next month.


CurrentC received funding from Walmart, Best Buy, Target and other retailers - and has undergone limited testing throughout 2015. CurrentC was expected sometime in "mid-2015," and the first-generation will require customers to scan a barcode at checkout to help pay for items.

The service is "making good progress" towards launching an app for consumers, according to Scott Rankin, COO of MCX, in a statement to Bloomberg. "We expect there to be more than one successful player in mobile payments, and we expect to be one of them."

CurrentC will likely have an uphill battle in the mobile payment space, as MCX will have to convince customers why they should support the platform. Mobile payments are expected to increase from $3.5 billion in 2014 up to $118 billion by 2018, according to eMarketer, though many consumers remain hesitant.

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