Jason Del Rey, Recode:
CurrentC, the payments app being created by a consortium of big retailers known as MCX, may not launch widely this year as originally planned, MCX CEO Brian Mooney told Re/code in an interview on Tuesday. The company will begin a public pilot of its app in Columbus, Ohio, in a few weeks and will not rush a wider rollout if the product is not ready, he said.
“This is a long game,” Mooney said. “Certainly going faster is always better — that’s not necessarily a debatable point. But we’re going to do it right.”
“Right”, eh? How so?
Instead, CurrentC’s beta users can only pay using one of three options: Gift cards, a store’s private-label payment card or direct hookups with their checking accounts. Mainstream credit cards carry higher transaction fees than these options, which is a big reason why they aren’t currently part of the offering. Mooney said CurrentC could add support for mainstream cards in the future, but wouldn’t say when or which ones.