Walmart-backed CurrentC expands test, partners with Chase

As mobile payment use and adoption continue to grow, the retailer-backed Merchant Customer Exchange has expanded its test to more stores.

The MCX began testing CurrentC at a handful of stores in August and has now expanded that test to 200 locations at 12 retailers in Ohio.

MCX was developed by a consortium of merchants, most notably Walmart (NYSE:WMT), which has led the charge to find a payment solution that reduces so-called swipe fees.

Mobile payment options are rapidly appearing, JP Morgan Chase announced today that it is preparing to roll out Chase Pay, which will allow users to pay for goods and services in physical stores. Chase has approximately 94 million customers and one of the most popular mobile apps today.

Notably, Chase is partnering with the MCX and will use its platform to make the service available to its retail members including Best Buy, Target and Walmart. Any retailer that accepts CurrentC will also accept Chase Pay.

MCX and CurrentC have been controversial in that the group required member companies that backed development to commit to its exclusive use for a period of time or face fines. The mobile wallet has been declared dead before arrival as new platforms—specifically, Apple Pay—come online, but a partnership with Chase makes CurrentC look like more of a contender.

For more:
-See this Mobile Commerce Press story
-See this Reuters article

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