Best Reading of the Day - Entry 0167 MCX CEO Speaks about CurrentC at Money20/20 and Beyond

Money 20/20 is the fairly new but rapidly growing trade show that involves all things related to money including mobile payments and much more.  This year's event just wrapped up in Las Vegas, NV.

Dekkers Davidson, the CEO of the Merchant Customer Exchange (MCX) spoke about the CurrentC product and its value proposition for consumers.

Interviews were performed.  The Verge handled one of those.  Here is the story on that site:

http://www.theverge.com/2014/11/5/7163147/mcx-currentc-ceo-interview-apple-pay

Be sure to read the entire interview there.  Here is a snippet from that piece:

“When you go to the gas station today, you’ll often see a credit price and a cash price. And the difference can sometimes be 10, 20 cents a gallon depending on where the price of gasoline is pegged. If you want to go pay for gas, you have to get out, walk into a store, either make the cash payment, or say ‘I’m going to fill it up’ and walk back in,” MCX CEO Dekkers Davidson said in an interview with The Verge. “So here’s a world that is possible. You can drive up to the pump and, using low energy Bluetooth, the pump can actually recognize that it’s Ben who’s pulled up. If you are on the CurrentC network, and you have pre-authorized a certain payment method, the merchant then has the opportunity to adjust and roll back the price at the pump to either a cash price, or something that’s much lower than you’d pay with the current credit network.”

A mobile payment price that is the same as the cash price? If it can be delivered, that is finally a concrete advantage over Apple Pay.

That is a pretty good value proposition and a differentiating factor over other products in this space. Sounds like there may be a bit under the hood that we haven't seen from CurrentC until now and possibly more to come.  What will the next year bring?

Happy Reading,

J.W. Gant