MCX CEO, Brian Mooney, said in a statement that the company now focuses on building out other segments of the business like partnerships with financial institutions, appleinsider.com reports.
CurrentC, MCX’s service, lets shoppers pay for items with their mobile phones and uses a scannable code to initiate transactions. It has been in development since 2012 and was initially devised to sidestep credit card network fees by directly linking to customer bank accounts. In October 2015, MCX expanded the CurrentC mobile wallet pilot to further locations across Columbus, Ohio, making it available for use in nearly 150 stores.
After development setbacks and a postponed launch, retail partners are drawing back, the same source indicates. In 2015, Rite Aid and Best Buy broke from MCX convention and began accepting other NFC solutions, including Apple Pay, at certain stores.
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