From the Merchant Customer Exchange (MCX) blog:
- Work on any phone – new or old, iOS or Android.
- Integrate coupons, loyalty and payment into one seamless transaction.
- Meet or exceed industry-standard consumer fraud protection.
- Provide consumers with multiple ways to pay at their favorite merchants, including merchant gift cards, credit cards and debit accounts and personal checking accounts. MCX has plans to add additional forms of payment, including credit cards.
- Empower consumers with full ownership of their decision to engage with merchants – they can choose to limit the information they share through our privacy dashboard, which means they will have the ability turn off location based services and opt out of marketing communications in our app.
- Work seamlessly across multiple technologies and use cases including QR codes (which Starbucks has already proven to be successful with 6 million transactions per week), Bluetooth and many more to come.
So they will one day support credit cards (currently and conveniently debit accounts only) and hey look here, visible QR codes do work (securely?)!
But what about the fees that a certain NYT report said members would pay if MCX members backed out of using CurrentC:
The problem is that under the terms of their MCX contractual agreement, they are not supposed to accept competing mobile payments products like Apple Pay, according to multiple retailers involved with MCX, who spoke on the condition of anonymity. If these retailers break their contracts, they will face steep fines for doing so, these people said.
Apple Pay Runs Afoul of MCX, a Group With a Rival Product | NYT
According to MCX, "these people" are simply incorrect about any fines:
Does MCX Require its Merchants to Only Offer CurrentC?
MCX merchants make their own decisions about what solutions they want to bring to their customers; the choice is theirs. When merchants choose to work with MCX, they choose to do so exclusively and we’re proud of the long list of merchants who have partnered with us. Importantly, if a merchant decides to stop working with MCX, there are no fines.
Maybe there isn't an actual fee for exiting your 3 year exclusivity contract with MCX, but perhaps eating the $250,000 - $500,000 entry fee into the system is fee enough?