MCX CEO Touts Loyalty Perks of CurrentC, Says There Are 'Consequences' for Breaking Exclusivity Terms

currentc_phoneApple Pay competitor Merchant Customer Exchange or MCX, which is a group of retailers working on a QR-code based payment system called "CurrentC," has been in the spotlight in recent weeks after two prominent MCX members, Rite Aid and CVS, opted to remove Apple Pay support from their retail stores.

After a glut of negative press and a hacking incident, MCX executives have been scrambling to defend CurrentC, hosting a press conference and doing several interviews.

The latest information on MCX and CurrentC comes courtesy of The Verge, in an interview conducted with MCX CEO Dekkers Davidson.

According to Davidson, when it comes to security, CurrentC uses the same tokenization system Apple Pay is based on, replacing card numbers with random numbers. He also says that if customers want to be "totally anonymous" to retailers, "they'll get that."

We think Apple Pay, which has also embraced the concept of low value tokens as we did three years ago, we're probably in simpatico on that one. I pull out my phone, I hold up my phone with a QR code that says "I am a customer at lane 6", and now we're each sent a token and a message to the cloud that says "I am the seller" and "I am the buyer and I want to pay for this transaction with the payment instrument that I've selected in my phone." There's no piece of paper to sign, there's no print out, there's no signature to hand back. There are never credentials in my device at the point of sale, it all occurs in a secure server. So like with Apple, if anyone were to intercept the low value tokens there's nothing they could do with that.

One of the major draws of CurrentC that MCX executives have highlighted time and time again is its ability to incorporate loyalty cards and discounts, suggesting consumers want more than just a payment method. Davidson pointed out that the average American household is signed up for 18 loyalty programs but only uses a handful, with CurrentC making it "rewarding" and "hassle free" for customers to take advantage of loyalty programs. The CurrentC app offers automatic credits, points, and coupons, which are redeemed with each transaction.

This puts all the power in the hand of the consumer to make it simple, to make it rewarding and to make it hassle free. So for us, it's a lot more than about payments. Paying by mobile is a flat value proposition, it'll be cool for a while, but we hear from our merchants and they hear from their consumers that they want something that brings it all together, that's what we're doing.

On the subject of QR codes, Davidson says that CurrentC is "quite forgiving." Customers will not need to hold their phones "at a certain angle with certain light," and it's "designed to read a QR code pretty quickly." Davidson pointed towards Starbucks as a QR code success story, and said Starbucks is an "inspiration."

Davidson also commented on MCX's exclusivity agreements that have prompted stores like CVS and Rite Aid to stop accepting Apple Pay, while MCX member Meijer has continued to offer Apple's payment solution. "They have to make the decision that's best for their business," he said, but he went on to say that defying MCX's exclusivity agreements does have "consequences." Merchants who do not keep agreements will not see MCX "put a lot of energy in helping get [them] launched in the near term."

Davidson's full interview, which also includes details on why he thinks customers will use CurrentC, more of his thoughts on QR codes, and more information on the recent hacking attempt that saw customer email addresses compromised can be found over at The Verge.

Related Roundup: Apple Pay

Popular Stories

iOS 19 Mock WWDC25 Feature

iOS 19 Expected to Run on These iPhones

Monday March 31, 2025 5:28 pm PDT by
iOS 19 will not be available on the iPhone XR, iPhone XS, or the iPhone XS Max, according a private account on social media site X that has accurately provided information on device compatibility in the past. The iPhone XR, iPhone XS, and iPhone XS Max all have an A12 Bionic chip, so it looks like iOS 19 will discontinue support for that chip. All other iPhones that run iOS 18 are expected...
maxresdefault

Apple Releases iOS 18.4 With Priority Notifications, Ambient Music, New Emoji and More

Monday March 31, 2025 10:03 am PDT by
Apple today released iOS 18.4 and iPadOS 18.4, the fourth major updates to the iOS 18 and iPadOS 18 operating system updates that came out last year. iOS 18.4 and iPadOS 18.4 come two months after Apple released iOS 18.3 and iPadOS 18.3. Subscribe to the MacRumors YouTube channel for more videos. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to...
watchOS 11 Thumb 2 1

Apple Releases watchOS 11.4 With Sleep Alarm Update

Tuesday April 1, 2025 10:34 am PDT by
Apple today released watchOS 11.4, the fourth major update to the operating system that runs on the Apple Watch. watchOS 11.4 is compatible with the Apple Watch Series 6 and later, all Apple Watch Ultra models, and the Apple Watch SE 2. watchOS 11.4 can be downloaded on a connected iPhone by opening up the Apple Watch app and going to General > Software Update. To install the new software,...
AirPods Pro Firmware Feature

Apple Releases New Firmware for AirPods Pro 2 and AirPods 4

Monday March 31, 2025 11:27 am PDT by
Apple today released new firmware updates for all AirPods 4 and AirPods Pro 2 models. The new firmware is version 7E93, up from the 7B21 firmware that was installed on the AirPods Pro 2 and the 7B20 firmware available on the AirPods 4 and AirPods 4 with ANC. It is not immediately clear what new features or changes are included in the new firmware, but we'll update this article should we find ...
iPhone 17 Pro 34ths Perspective

iPhone 17 Pro Launching Later This Year With These 10 New Features

Sunday March 23, 2025 10:00 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of March 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
macOS Sequoia Feature

Apple Releases macOS Sequoia 15.4 With Mail Categorization and More

Monday March 31, 2025 10:04 am PDT by
Apple today released macOS Sequoia 15.4, the fourth major update to the macOS Sequoia operating system that launched in September. macOS Sequoia 15.4 comes two months after the launch of macOS Sequoia 15.3. Mac users can download the ‌‌macOS Sequoia‌‌ update through the Software Update section of System Settings. It is available for free on all Macs able to run macOS 15. With...
Apple Card iPhone 16 Pro Feature

Visa and American Express Vying to Win Apple Card Deal in 'Fierce' Fight

Tuesday April 1, 2025 1:50 pm PDT by
Visa wants to pay Apple approximately $100 million to be the new payment network for the Apple Card, reports The Wall Street Journal. As of right now, the Apple Card is on the Mastercard payment network, but that is set to change because Apple is ending its partnership with Goldman Sachs. Both American Express and Visa are vying to replace Mastercard as Apple's card services provider, while...

Top Rated Comments

NachoGrande Avatar
136 months ago
The "consequences" are meaningless since they'll be out of business within a year. :rolleyes: no one will use this system.
Score: 60 Votes (Like | Disagree)
Bare Avatar
136 months ago
What a joke. Deflect from the fact that you require direct access to bank accounts, and keep pushing the "security of the cloud!"

There is still NO REASON why these MCX retailers accepted Google Wallet and Apple Pay during their "exclusivity" and why they suddenly shut off their NFC terminals. Keep refusing Apple Pay, and we'll continue to shop elsewhere.
Score: 55 Votes (Like | Disagree)
Oli20 Avatar
136 months ago
The consequences for Meijer is that I now shop there for all my groceries, pharmacy needs, and general goods because of their support of Apple Pay. If there are other people like me I would say the consequences are worth it.
Score: 42 Votes (Like | Disagree)
brunozs Avatar
136 months ago
Stop trying to make CurrenC happen. It's not going to happen.
Score: 35 Votes (Like | Disagree)
wxman2003 Avatar
136 months ago
MCX will not help vendors set up CurrentC if they use NFC and violate their agreement. Sounds like a win win for the customer and the vendor.
Score: 35 Votes (Like | Disagree)
Kariya Avatar
136 months ago
What is this some kind of mafioso family?
Score: 28 Votes (Like | Disagree)