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  • CurrentC CEO Leaves Company as Best Buy Announces Acceptance of Apple Pay


    We noted that Apple CEO Tim Cook recently announced at the company’s quarterly conference call that Best Buy would be adopting Apple Pay in their stores later this year. This may not be shocking for most people but those who are surprised know that Best Buy is a supporter for the Merchant Customer Exchange (MCX) consortium. If you knew that, then you would also know that Best Buy is behind Apple Pay competitor CurrentC. What’s even more shocking is the fact that just one day after the announcement, MCX CEO Dekkers Davidson is no longer working at the company. Dekkers has been replaced by Brian V. Mooney from Bank of America Merchant Services as an interim CEO.

    It was noted by MCX spokesperson Kristin Parran Faulder that the change did not have anything to do with the Best Buy announcement. According to Business Wire,

    “MCX was created to capitalize on a tremendous opportunity for consumers, and I look forward to taking the company through the next exciting phase of bringing CurrentC™ to the market,” said Mooney. “MCX has a talented team in place backed by the determination and resources of many of the world’s largest and most successful merchants. Building on that foundation, we’re focused on making CurrentC™ the consumer preferred mobile payments app.”
    Multiple reports are noting that CurrentC is looking at a launch date of later this year. Apple Pay has definitely been successful in the U.S and most likely expand from here. What are your thoughts? Do you think CurrentC will be as successful as Apple Pay? Share with us in the comments below.

    Source: Business Wire
    This article was originally published in forum thread: CurrentC CEO Leaves Company as Best Buy Announces Acceptance of Apple Pay started by Akshay Masand View original post
    Comments 12 Comments
    1. SpiderManAPV's Avatar
      SpiderManAPV -
      I wonder which consumers it is that prefer it?
    1. bmwraw8482's Avatar
      bmwraw8482 -
      I saw that bestbuy takes apple pay in their app, but are they like target where they still don't take apple pay in their stores?
    1. mrbaker1979's Avatar
      mrbaker1979 -
      In store use will be available later this year.
    1. peacedog's Avatar
      peacedog -
      Businesses can easily accept both. They are just being a bunch of jerks. CVS and Walmart are actively blocking Apple Pay, because their hardware is already equipped to accept Apple Pay.
    1. StuG III's Avatar
      StuG III -
      Does CurrentC have anything to do with Bank of America, apart from the interim CEO?
    1. uri8472's Avatar
      uri8472 -
      Quote Originally Posted by peacedog View Post
      Businesses can easily accept both. They are just being a bunch of jerks. CVS and Walmart are actively blocking Apple Pay, because their hardware is already equipped to accept Apple Pay.
      I really dislike this sort of behavior, a service should not be blocked in this way, especially when the equipment is already there. Still, I wonder if their reasons for doing this have anything to do the fact that Apple Pay is inherently tied to one single platform (Apple's) while CurrentC is not tied to any given platform, much like PayPal, which exists as an independent entity. This is what has bothered me about Apple Pay from the start.

      Also, Apple isn't exactly a stranger to conducting such unfair practices themselves, like blocking apps and services that might be better than their in-house version. Look at what they've been doing to Tidal as of late. This sort of behavior is wrong, no matter what direction it is coming from.
    1. Nuff Said's Avatar
      Nuff Said -
      Apple pay successful? A previous article stated otherwise.
    1. RandyTG's Avatar
      RandyTG -
      The stores want CurrentC because it is tied to a banking account so there are no transaction fees, like they have to pay with a credit card. But who wants to pay with a debit card for everything. I get 2% back every year by using my credit card and I pay the balance every month. My bank doesn't give me that on my savings so why would I want to use debit or CurrentC.
    1. buggsy2's Avatar
      buggsy2 -
      Quote Originally Posted by RandyTG View Post
      get 2% back every year by using my credit card
      Which CC is that?
    1. buggsy2's Avatar
      buggsy2 -
      Don't let the door hit you blah blah...somehow I feel little sympathy.
    1. bisayakid07's Avatar
      bisayakid07 -
      Quote Originally Posted by buggsy2 View Post
      Which CC is that?
      I this this is AMEX Costco
    1. nealh's Avatar
      nealh -
      I think is the Citi double cash card 1% is earned when make the charge. Another 1% when you pay