Tag: Merchant Consumer Exchange

MCX plans to test mobile commerce platform in Ohio

| September 14, 2015

MCX will be testing CurrentC among large retail partners in Ohio

The Merchant Consumer Exchange (MCX) is planning to begin testing its new mobile commerce platform, CurrentC, among its large retail partners in Ohio. MCX was established as a partnership among several large retailers, including Target and Walmart. These retailers had taken note of the rise in mobile shopping and have felt the need to engage consumers more effectively. As such, MCX was tasked with developing a mobile commerce platform that would serve this purpose.

Test may determine the launch of the new mobile commerce platform

Ohio will host the first major test of the new mobile commerce platform. The service will allow retailers to support mobile payments being made by customers. Those with smartphones will be able to use the service to make transactions directly from their device. The platform itself has been in development for some time, with the retail partners of MCX showing some impatience when it comes to waiting for a service they can use. Based on the test results in Ohio, CurrentC may see a limited launch next year or within the coming months.

Retailers are beginning to seek out other platforms they can use

Mobile Commerce Platform being tested in OhioInitially, MCX partners has agreed not to support any other mobile commerce platform while they waiting for CurrentC to be released. This agreement is set to expire within the coming week, however, which will allow retailers to embrace other platforms, such as those coming from Google, Apple, and Samsung. Being able to embrace other platforms will provide retailers with a way to effectively engage mobile consumers, but it may be bad news for CurrentC, which has already struggled to maintain the support of retailers.

Security remains a primary concern for those interested in mobile commerce

One of the issues facing mobile commerce as a whole is security. Many retailers have shown concern for the security of consumer financial information when they are participating in mobile commerce. Creating secure platforms has proven somewhat complicated, however, as methods to exploit these platforms have been growing more sophisticated.

Merchant Consumer Exchange mobile payments platform to go public in coming months

| April 9, 2015

CurrentC will soon be more available to consumers and retailers in the US

The Merchant Consumer Exchange, a company created by a consortium of retailers in the United States, has announced that its mobile payments platform, CurrentC, will go public within the next few months. The company has developed this mobile payments platforms in order to accommodate the needs of retailers that want to engage mobile consumers. These consumers are becoming more prominent in the retail space, as they are beginning to rely more heavily on their mobile devices in order to shop for and purchase products online and in physical stores.

CurrentC uses NFC technology and QR codes to support mobile payments

CurrentC is designed to be compatible with NFC-based payment terminals. These terminals use NFC technology to receive financial data, which is used to complete a transaction. NFC technology has become the backbone of mobile payments, but it is not the only tool that can be used for transactions. CurrentC will also be using QR codes to support mobile payments. These codes are meant to be generated by point-of-sale terminals, allowing CurrentC users to scan the codes to complete a mobile payment.

Retail partners have already given some momentum to CurrentC

Mobile Payments Coming Soon - WalmartThe Merchant Consumer Exchange holds an opportune position in the retail space. Because the company was established by several large retailers, these organizations have opted to withhold their support of other mobile payments platforms. Retailers like Best Buy and Wal-Mart have opted to deny transactions made through Apple Pay, opting instead to support transactions made using CurrentC. With the new mobile payments system going public in the near future, retailers are about to see their support for the platform pay off.

Exclusive support for CurrentC is expected to end in the coming months

Those associated with the Merchant Consumer Exchange cannot technical support other mobile payments platforms, but the consortium notes that exclusive support for CurrentC will be done away with in the coming months. This means that retail partners will be able to support other platforms that have already become popular with consumers.