MCX hire new CEO hours after Apple Pay pocket Best Buy

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Contactless payment firm Merchant Customer Exchange have announced the appointment of their new CEO, just hours after MCX affiliate Best Buy switched to Apple Pay.

Merchant Consumer Exchange, which is spearheaded by retail giant Walmart, released a statement yesterday confirming the appointment of financial services and payment industry veteran Brian V. Mooney as the company’s Interim Chief Executive Officer.

Mooney recently served as CEO of Bank of America Merchant Services, one of the largest U.S. merchant payment acquirers.

‘‘Brian is a proven leader who has spent a substantial portion of his career at the forefront of payment technology, processing and acquisition. He is the right leader for MCX now: talented, experienced, consumer-focused, and fully prepared to help MCX and its hard-working employees deliver on the company’s enormous potential and vision,’’ said MCX in a statement.

Mooney replaces Dekkers Davidson, who announced he was leaving MCX to ‘‘peruse other opportunities,’’ although speculation suggests that the CEO shake-up is due to Best Buy announcing their partnership with fierce rivals Apple Pay.

The Minnesota-based consumer electronics firm was a keen supporter of MCX and CurrentC, MCX’s own mobile payment system designed to challenge Apple Pay. The CurrentC app uses a QR code system instead of Apple Pay’s near field communication (NFC) technology.

Although Walmart are using Apple Pay, a spokesman yesterday revealed that they are still part of the MCX consortium.

MCX are bound to have taken the news personally. In October 2014, MCX and Apple were caught in what Apple CEO Tim Cook called a ‘skirmish,’ as pharmaceutical firms Rite Aid and CVS dropped Apple Pay from their payments system, as they were part of MCX, a consortium which has 110,000 US stores within its ranks.

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