The competing payment platform is CurrentC, which has the backing of Merchant Customer Exchange (MCX), but not one single bank yet. MCX is a partnership created back in 2012 with major retailers like Walmart, Target, CVS, Best Buy, Dunkin Donuts, Gap, 7-Eleven, Sears, and many more. Despite the fact that CurrentC isn't on the market, has no banks on board, and won't be available until next year sometime, the MCX partners have started blocking Apple Pay, Google Wallet, SoftCard, and other mobile payment systems.
So, it looks like there will essentially be two different types of stores once next year rolls around - those in MCX who support CurrentC, and everyone else. In the worst case scenario, MCX will gain more retail backers, or other major retailers will break off to create even more locked-down systems. But, we're hoping that the more open standard wins out, and the choice of mobile payment platform is left up to the consumer.