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Did CurrentC Kill Apple Pay Before 2015 Launch?

As Apple struggles to sign retailers on board with its upcoming Apple Pay app, it seems that another competitor is gaining lots of support. MCX has been signing a lot of big retail chains on to its CurrentC app instead. The CurrentC app claims to securely connect the retailer’s wireless payment ports into the user’s bank account. This bypasses the need for a credit or debit card fee when processing the payments. This could save retailers a small margin of profit that is normally paid to credit card companies and banks.

Did CurrentC Kill Apple Pay Before 2015 Launch?

iPhone6 Apple Pay

Apple Pay seems all but dead shortly after launch, but an upcoming app called CurrentC seems like it could slay the tech giant. (image from Apple)

CurrentC has not committed to a full launch yet, but plans to do a full launch of it’s app in 2015. Apple has had a head start in the business by launching Apple Pay with it’s new iPhone6 and iPhone6 Plus. The cell phones contain a near-field communications antennae that allows the phone to communicate remotely with nearby devices, but in a totally different way than Bluetooth. It seems that despite the head start, Apple may end up being the turtle in this race against a hare.

Despite a minor setback in the security of MCX’s CurrentC database, retailer and consumer confidence appears unshaken. By now most major banks and retail outlets have had theirs and their customer’s account information hacked. The news that a little heard of app had it’s user database hacked barely made the news.

Retailers and consumers both have a lot to learn about contact-less payment apps, and the reliability of them in the long run. For now, it mainly seems to be a fad among people who want to be pioneers and trendsetters. The early adopters have been keen to pull out their phones and show off their fancy way to pay, but many major stores are still turning their heads to big offers to accept these fashionable forms of payment.

Did CurrentC Kill Apple Pay Before 2015 Launch?

About Steven Kenniff

Lives in Phoenix, AZ. Graduated from Arizona State University in 2005. Writes for American Live Wire, GM Roadster and Northstar Media