MCX CurrentC to hit stores in August 2015

The app — which was created by Merchant Customer Exchange (MCX) and has funding from Wal-Mart, Target and Best Buy — is getting a limited trial run in stores in August 2015, according to Bloomberg Business. It’s expected to be used in larger public tests later this year, the report said.

Merchant Customer Exchange is expected to introduce the app during Q3 2015, Bloomberg unveiled. The app has fierce competition, though, with mobile payment systems from Apple and Google already available to shoppers.

As the report notes, there are security and other issues involved as CurrentC goes public. For instance, the app was hacked in 2014 during testing, which might make potential users wary of its safety. And Bloomberg points out that CurrentC has not signed deals with credit-card companies.