MCX or The Merchant Consortium Exchange recently laid off around 30 employees and now in an official announcement has said that the beta test which is ongoing for CurrentC is said to end. They also stated that presently any future releases have been postponed. The plan was to first suspend the beta test and then send an email to the beta testers located at Ohio and Columbus and obtained by The Consumerist.

It has also been said that once the beta test has ended, the entire customer accounts will be disabled by MCX. They also said that the access for consumers to the service will also be ended. In the email that the beta testers had received, it was informed to them by the company that the beta testing will be concluded by the company and the CurrentC‘s further releases will also be postponed. They went on to say that using CurrentC, the last transaction that would be accepted was on June 28th.

Soon after the beta testers had received the letter, on the official website of the company, a similar message had been posted by MCX. They also went ahead and uploaded an FAQ form so that the users can get to know about their accounts as well as the future that is in store for CurrentC. The revelation that was made recently is something that has been coming for quite  some time now.

It was announced by MCX earlier that they had plans to postpone the rollout of CurrentC nationwide. In the meantime, they wanted to also focus on various other aspects of their business. Ever since the service had launched around 2 years ago, the road has been really rocky. The thought of the company was that Current C could have become a viable competitor to Apple’s Apple Pay service.