CurrentC is the mobile payment system being created and evaluated by a consortium of retail giants including CVS, Rite-Aid, Walmart and many more. The consortium known as MCX (Merchant Customer Exchange) confirmed that CurrentC pilot users email addresses were breached by an unauthorized third party. CurrentC also says these emails were mostly dummy accounts and the application itself was not affected.
CurrentC has been in the news lately due to two of its members (CVS and Rite-Aid) pulling Apple Pay and Google Wallet from their stores. NFC mobile payments are a competitor to CurrentC’s QR code method and MCX wants its customers using their payment system. CVS and Rite-Aid have been criticized for pulling NFC payments from their stores as it takes away consumer choice leaving them with only one mobile payment option. CurrentC has also been criticized for being a slower more clunky way of conducting a retail transaction, as it requires you to scan a QR code instead of just tapping your phone on a terminal. For now CurrentC is still investigating the email breach and we’ll report back if anything else breaks.
“We take the security of our users’ information extremely seriously,” said MCX spokeswoman Linda Walsh. “MCX is continuing to investigate this situation and will provide updates as necessary.”
What do you think of CurrentC and NFC? Which technology would you rather see implemented? Perhaps both? Let us know in the comments or on Google+, Facebook and Twitter.
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