Current-C was a mobile payment platform developed by the Merchant Customer Exchange (MCX), a joint venture of leading U.S. retailers including Walmart, Target, Best Buy, and others. The company's mission was to create a payment system that bypassed traditional credit card networks, thereby avoiding interchange fees for its member merchants. The platform utilized QR codes on a customer's smartphone to initiate payments directly from their bank account via the ACH network. Despite significant backing, the project faced challenges with user adoption due to a cumbersome user experience and public controversy over member retailers disabling competing NFC-based services like Apple Pay. The service was officially discontinued in June 2016, and its underlying technology was later sold to JPMorgan Chase.

Founded in

United States