Best Buy's move to accept Apple Pay in its stores is the clearest public sign yet that the Merchant Customer Exchange has radically altered its vision of and ambitions regarding a retailer mobile wallet.

MCX's CurrentC wallet was designed to lower interchange for merchants through the use of a cloud-based mobile wallet, while keeping merchants in control of consumer data. When Apple Pay launched last year with a structure that allied with the banking industry's interchange pricing structure — and offered a bump in security —  it shifted the very nature of the market that MCX was developing for.

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