currentc

The Merchant Customer Exchange, better known as MCX, announced Tuesday that it’s replacing its CEO. Dekkers Davidson is out, and banking veteran Brian Mooney is in as the [interim] chief executive for the consortium behind Apple Pay competitor CurrentC.

The news is interesting for a few reasons. For one, it’s not common for a company developing an app to replace its CEO before the app launches to the public. And two, it comes just 1 day after MCX member Best Buy announced it would start accepting Apple Pay.

“MCX was created to capitalize on a tremendous opportunity for consumers, and I look forward to taking the company through the next exciting phase of bringing CurrentC™ to the market,” Mooney said in a press release. As for the former CEO, the group says “We appreciate the contributions Dekkers has made to MCX in helping establish the foundation for the company’s growth and success. We wish him well in his new endeavors.”

MCX launched a beta version of its mobile payment app CurrentC last fall. It isn’t as user-friendly as Apple Pay or other offerings, but it pushes payment methods like bank accounts and store-branded cards, which don’t cost merchants in expensive transaction fees.

Source: MCX