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MCX2 posts
30 Oct, 2014

Conference call

CurrentC holds a conference call with journalists about the Apple Pay shutoffs by big merchants. MCX CEO Davidson says the decision to shut off Apple Pay and Google Wallet is based on what stores believe customers want:

This is not a technology decision. It’s about consumer engagement.

He says it is ‘entirely possible’ and desirable in the future for the other payment systems to coexist:

We need to build the mobile commerce ecosystem to have two or three viable players. One won’t simply build the market. There is no harm from competition. It should happen.


28 Oct, 2014

Fines for accepting competitors in $90b business

Retailers tell the New York Times that there are fines involved under their contracts with MCX if they accept competing payment systems. The newspaper notes a projection by the Forrester consulting group that payments will become a $90 billion business. Some MCX customers are still waiting for CurrentC and could miss out on payments in the interim if Apply Pay becomes popular. They also risk creating customer resentment. Payments industry consultant:

These retailers are in a real jam. The last thing merchants want is ticking off their consumers over payment.


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