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    MCX to end CurrentC pilot and disable all accounts

    US retailer-led consortium MCX is concluding the pilot of its CurrentC mobile wallet at the end of June and will be disabling all user accounts. The company has “not yet determined the future timing of CurrentC”.

    CurrentCThe announcement follows the postponement of a nationwide rollout for the mobile payment service last month, when the company also laid off approximately 30 of its employees.

    “We will be concluding our Beta on June 28, 2016,” the company says. “We have not yet determined the future timing of CurrentC. CurrentC will be accepted in all participating stores until June 28.”

    “If you are removing a gift card that shows an available balance, you must have your original gift card to access the amount since your account information is not retained by CurrentC,” MCX continues. “If you no longer have your physical card, please use the remaining balance in CurrentC before June 28 because any remaining balance cannot be reissued to you once the card is deleted from your CurrentC account.

    “Loyalty points will not be affected by removing your loyalty accounts in CurrentC. You will be able to continue to use all coupons with a valid expiration date until June 28.”

    “To close your account before June 28, you can call Customer Care,” the company adds. “On June 28, all active accounts will be disabled and you will not be able to access your CurrentC account from the CurrentC app.”

    MCX unveiled CurrentC in September 2014 and added offers and discounts to the service in August 2015. It unveiled plans for the pilot in the same month, when CEO Brian Mooney also revealed that the company was not planning to rush the launch of CurrentC until the product was ready.

    • Willam Hugh Murray, CISSP

      Sorry to see this potential merchant alternative to magnetic stripe, high exchange fees, and fraud charge backs, not make it to general availability. We needed this competition to discipline the brands and issuers.

      • Wonderweiss

        yayyyy

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