| Founded | 2012 |
|---|---|
| Closed | 2016 |
| Country | USA |
| Sector | Fintech |
| Collapse type | Slow Death |
CurrentC (MCX)
"Walmart led 50 retailers in a conspiracy to block Apple Pay — they suffered a data breach before launch and Apple Pay won anyway"
Years-long decline before final shutdown
Key Events Timeline
Merchant Customer Exchange (MCX), the consortium that operated CurrentC, was founded in 2012 by a coalition of 50+ major US retailers including Walmart, Target, Best Buy, CVS, Rite Aid, Shell, Gap, and others with a single strategic objective: to create a mobile payment system that would bypass Visa and Mastercard's transaction fees, eliminate Apple Pay's potential dominance, and retain valuable customer purchase data within the retail coalition rather than surrendering it to Apple.
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