MCX, the consortium behind Apple Pay competitor CurrentC, has announced that it will layoff 30 employees has it postpones the nationwide rollout of its payment system. The company will instead spend time focusing on making deals with banks and other parts of the business, calling the moves a response to feedback.
In a statement to TechCrunch, MCX CEO Brian Mooney said :
Utilizing unique feedback from the marketplace and our Columbus pilot, MCX has made a decision to concentrate more heavily in the immediate term on other aspects of our business including working with financial institutions, like our partnership with Chase, to enable and scale mobile payment solutions. As part of this transition, MCX will postpone a nationwide rollout of its CurrentC application. As MCX has said many times, the mobile payments space is just beginning to take shape – it is early in a long game. MCX's owner-members remain committed to our future.
CurrentC has been met with a mixed reception since its initial announcement in late 2014. There have been concerns over data collection, along with data breaches, not to mention confusing partner contracts that failed to make clear whether a retailer needed to support the system exclusively.
This is also not the first time MCX has delayed CurrentC, which was originally intended to launch nationwide by the end of 2015.