The CurrentC beta trial is about to come to an end, and the fate of the entire service hangs in question, reports Consumerist.
The mPayment service was initially launched by merchant consortium MCX (Merchant Customer Exchange) as a rival to major credit card companies, but eventually found itself in competition against mPayment platforms like Apple Pay and Samsung Pay. The service has encountered some bumps in the road during its development, and last autumn the merchant spearheading the program, Walmart, launched its own mPayment service, which may have been an indication that CurrentC was stalled.
Now, MCX has sent an email to beta testers indicating that the trial period will close on June 28th, at which time “all active accounts will be disabled”. Moreover, the notice states that MCX will be “postponing further releases of CurrentC”, which certainly doesn’t bode well for the service’s future.
Contacted for comment, an MCX spokesperson told Consumerist that the CurrentC team is “looking forward to analyzing and learning from the data we gleaned throughout the beta.” But with Apple Pay, Samsung Pay, and Android Pay continuing to expand into new markets around the world, CurrentC appears less and less likely to remain a serious competitor in mPayments.