CurrentC—the brain child of the Merchant Customer Exchange (MCX)—hasn’t had a good run of things.

Facing internal dissent, a growing array of competitors, and even some members planning to roll out their own internally-branded mobile payments products, it’s been a project on the books for some time.

New reports suggest that it’s not going much farther than that for the foreseeable future.

Reports suggest the MCX has already planned to lay off 30 people as it pushes back the rollout of CurrentC in the United States, and instead focuses on establishing bank deals, with Chase being a particular target in the early going.

MCX CEO Brian Mooney noted that, drawing on feedback from both the Columbus pilot and the overall marketplace, it was instead going to focus on other projects short term.

This led to layoffs, which Mooney referred to as “very tough decisions.”

When pressed about the timeline for the program’s release, MCX representatives would only comment about the “long game” of the mobile payments field.

Mooney et al have almost certainly missed the boat altogether. With most of the major mobile carriers already having a mobile payment system in place branded with their own logo—Apple, Samsung, LG, even Google—and plenty of individual retailers like Starbucks and Wienerschnitzel coming out with their own versions, it was a safe bet that MCX’s much-vaunted-but-never-seen CurrentC was going to have to try and operate in a heavily competitive environment.

Worse, with pressure on from customers to bring in some kind of mobile payment system, many of the MCX’s own members jumped ship and either brought in an outsider like Apple Pay or began development of their own system like Walmart Pay. Sometimes, both at once took place.

MCX’s constant delays only allowed competitors to make more and deeper inroads, and now, expecting users to jump ship for MCX seems like a moot point. Without a huge new value proposition, who will drop Apple Pay for CurrentC?

The opportunity for MCX as a regular system seems lost amid a blizzard of competitors. It may be able to find new life with bank deals who come with their own infrastructure to address, but for now, this is likely to be the end of CurrentC altogether.