Merchant Customer Exchange Reveals CurrentC Payment Network

Tim Maytom

currentcMerchant Customer Exchange (MCX), the company formed by several leading US merchants to develop a customer-centric, secure mobile payment solution, has unveiled its CurrentC mobile payment network.

Designed to simplify, enhance and secure customers' shopping experience, the CurrentC platform will be made available across a variety of brands in the convenience, pharmacy, grocery, travel and dining industries, with apps available for both consumers and merchants looking to utilise CurrentC functions.

The network has already been launched in a private pilot at selected locations and brands across the US, which will expand over the course of 2014, before regional and national rollouts in 2015.

The CurrentC network will enable consumers to save money with coupons and offers during the payment process, and organise participating brands' loyalty programs into one app. In addition, consumers will be able to use CurrentC to pay from a variety of financial accounts, including merchant-branded credit and debit cards.

"CurrentC will offer consumers a simpler, faster, secure way to checkout at their favourite merchants," said Dekkers Davidson, CEO of MCX. "At full scale, CurrentC will be accepted in more that 110,000 merchant locations across the country, giving consumers unmatched access to their favourite retailers.

"It will also offer innovative features and benefits, such as merchant loyalty programs and instant coupon savings, all stored on the phone and available right at the point-of-sale."