CurrentC group says exclusivity is required, but no fees for leaving

Merchant Customer Exchange (MCX), the group behind mobile payment system CurrentC, has confirmed that retailers supporting CurrentC must support it exclusively, rather than in addition to something like Apple Pay. However, they have also addressed a recent report regarding possible penalties for leaving. MCX insists that there are no fines for members that decide to pull support for the system, according to a post on the MCX blog:

MCX merchants make their own decisions about what solutions they want to bring to their customers; the choice is theirs. When merchants choose to work with MCX, they choose to do so exclusively and we're proud of the long list of merchants who have partnered with us. Importantly, if a merchant decides to stop working with MCX, there are no fines.

Merchants supporting CurrentC are still required to pay $500,000 to come on board, in order to support the system needed to run CurrentC. MCX also answered questions regarding user privacy, the usefulness of CurrentC, and more.

For more on CurrentC, we've got a couple of questions as to why they want your device information, and exactly what they're collecting.

What do you think of CurrentC's answers? Leave your thoughts with us in the comments.

Source: Merchant Customer Exchange