LAS VEGAS--(BUSINESS WIRE)--During his keynote address at the 2015 Money20/20 conference in Las Vegas yesterday, Merchant Customer Exchange (MCX) CEO Brian Mooney discussed the company’s partnership with Chase – announced earlier this week at the same conference – as well as additional updates on CurrentC™’s development. As part of the partnership, MCX will integrate Chase Pay℠ as a form of payment into CurrentC™, the company’s mobile payments platform currently in public beta in Columbus, Ohio.
With CurrentC™ and Chase Pay℠, Chase’s 94 million cardholders will be able to pay and save using their smartphones in one easy, secure and seamless transaction. The CurrentC™ mobile app combines loyalty programs and payment accounts, automatically applying coupons, promotions and loyalty rewards at checkout.
Addressing an audience of payment industry insiders, analysts and press at Money20/20, Mooney said that the agreement with Chase will link MCX’s extensive network of owner-merchants – which collectively process over a trillion dollars annually in transactions at more than 110,000 retail locations across the United States – with Chase, which is number one in total U.S. credit and debit payment volume. He noted that Chase’s broad customer base represents one out of every two U.S. households.
“This partnership is a significant step in MCX’s mission to offer consumers the most convenient mobile commerce platform in CurrentC™,” said Mooney. “We are excited to partner with an industry leader like Chase, which is committed to offering consumers real value and convenience.”
“We look forward to a terrific partnership with MCX, and to creating an excellent payments experience for our mutual customers,” said Gordon Smith, CEO of Consumer & Community Banking at JPMorgan Chase & Co.
Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations.
Mooney highlighted that because MCX comprises leading retailers, restaurants and fueling stations, CurrentC™ can deliver item-level offers and unique incentives to drive consumer adoption. He also pointed out that CurrentC™’s technology allows it to be used on virtually any smartphone.
About MCX
Merchant Customer Exchange LLC (MCX) is building CurrentC™, a customer-focused and security-driven mobile commerce solution that will deliver a seamless and convenient payment and shopping experience for customers and merchants alike. CurrentC™, which works on virtually any smartphone, will allow consumers to pay with Chase credit, debit and prepaid cards; as well as checking accounts, private label credit and debit cards, and gift cards. MCX’s owner-members include leaders in the big-box, convenience, pharmacy, fuel, grocery, quick- and full-service dining, specialty-retail and travel categories. Collectively, these companies operate more than 110,000 locations and process more than $1 trillion in payments annually. The company operates from offices in Boston and Dallas. For more information, visit www.mcx.com. CurrentC™ and all associated proprietary marks are trademarks of Merchant Customer Exchange LLC and its related entities.
