MCX is here.. and full of Good Stuff

Why all the negative press on MCX….? Getting 60 Retailers together across a network of 2 acquirers, 100s of POS/payment terminal configs, phones/OS versions, loyalty systems all moving takes time… currentc-retailers-logo640

Yes I would agree that MCX has not done a great job on PR, and sure its UI Design team may have come from North Korea… but there is MUCH behind the scenes here.

I just used CurrentC at Target and I am NOT IN COLUMBUS. The functional leader in the MCX consortium is Target. My personal view is that Target led the way over 5 years ago with the launch of the Target Red Card. It is the “baseline” for MCX product launch (see my 5 yr old Blog). The Target team is just out of this world..  not just for retailers.. it is one of the best payment teams in any company.

Target has done a FABULOUS JOB of Integrating VERY COMPLEX functionality into CurrentC. Did MCX do the work? Nope.. think of MCX as a dumb container for the Target Red Card, and Target’s Loyalty Program Cartwheel.

So what is NEW about MCX?

  1. First in the world integrated payment, loyalty with SKU level coupon redemption
  2. Integrated ACH Settlement (Redcard)
  3. Risk Management – POS – ACH settlement (FIS and First Data) Red Card
  4. Mobile Application Supporting multiple loyalty cards and programs with SKU Level Redemption
  5. POS Bar Code Scanning of Payment (.. starbucks like)
  6. Routing and Clearing of both ACH, Debit and Credit within Acquirers (FIS and First Data)
  7. Technology on-ramps and containers for both mobile wallet, POS/Point of Sale integration, and Clearing/Settlement
  8. Rules and pricing for all of this

This is a HUGE project…. I would say the UI needs MUCH work.. but don’t judge this network by the app!

See my short video below

2 thoughts on “MCX is here.. and full of Good Stuff”

  1. Hey Tom,

    Great summary and very interesting first look at the UI – hopefully it gets cleaned up a bit. Any insight into Chase Pay and how that relationship may work with MCX?

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