CurrentC, a mobile payment platform backed by retailers including Walmart and Target could delay its US roll-out until next year.

The app is under development by a consortium of big retailers known as Merchant Customer Exchange (MCX) and is poised to rival mobile payment platforms Apple Pay and Samsung Pay.

CurrentC was expected to launch nationwide this year, however the company said that while it will launch a public trial within the next few weeks in Columbus, Ohio, it may postpone a wider roll-out out across the US until 2016 if the product is not ready.

MCX chief executive Brian Mooney told Recode:  “This is a long game. Certainly going faster is always better — that’s not necessarily a debatable point. But we’re going to do it right.”

CurrentC, which has the backing of some of the world’s biggest retail names such as Walmart, Target, Kohl’s and Best Buy, works differently to Apple Pay. While Apple Pay lets users pay by tapping a payment terminal with their mobiles, CurrentC users will have to open an app on their phone and will pay for goods via a debit card, pre-paid card or store-specific card.

According to its website, CurrentC will enable customers to redeem coupons and score loyalty points with retailers when they use the platform.