Major Retailers Join Forces for Mobile Wallet Venture "Merchant Customer Exchange"
August 15, 2012 5:40 PM
comment(s) - last by
Among the retailers involved are Wal-Mart and Best Buy
Several major retailers have come together to form a new company that is creating its very own
mobile wallet application
The new company is called Merchant Customer Exchange (MCX), and the retailers involved are Best Buy, 7-Eleven, Target,
, Sears, Shell Oil, Sunoco, Lowe's, Publix Super Markets, Alon Brands, CVS Pharmacy, Darden Restaurants, HMSHost, and Hy-Vee.
MCX plans to use the power of each of these major retailers to create a strong mobile wallet app for smartphone users. Together, all of these retailers rake in about $1 trillion in annual sales.
Mobile wallets eliminate the need for cash and credit cards, allowing customers to pay for every day items at store registers using only their smartphones. The MCX platform will provide promotions, retail programs and customized offers for customers as well.
"MCX will leverage mobile technology to give customers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders," said Mike Cook, corporate vice president and assistant treasurer for Wal-Mart. "The MCX platform will employ secure technology to deliver an efficiency-enhancing mobile solution available to all merchant categories, including retail stores, casual dining, petroleum and e-commerce."
It's odd to see some brick-and-mortar retailers working together on such an effort, since many of them are direct competitors, but one thing that these kinds of retailers do share is their lack of presence in the technological realm. Stores like
Best Buy and Wal-Mart were complaining
about Internet retailer
when it wasn't collecting sales taxes certain U.S. states. The retailers fell behind the Internet's lead and is now looking to use technology for help.
This article is over a month old, voting and posting comments is disabled
RE: Credit Card Fees
8/15/2012 10:09:09 PM
All I want is for someplace to accept Google Wallet from my Galaxy Nexus phone, dang it! I rooted this sucker in part to give the middle finger to Verizon and that includes using payment systems they tried to crush.
RE: Credit Card Fees
8/17/2012 12:52:25 AM
Lots of places do.
"People Don't Respect Confidentiality in This Industry" -- Sony Computer Entertainment of America President and CEO Jack Tretton
Amazon to Offer Same-Day Delivery, Could Pummel Brick-and-Mortar Retailers
July 12, 2012, 12:33 PM
Canadian Smartphones May Supplant Credit Cards
April 26, 2012, 7:48 AM
Walmart to Sell New iPads Starting at Midnight, iFixit Disassembles the New Tablet
March 15, 2012, 4:42 PM
Walmart, Best Buy Pressure Amazon to Collect Sales Taxes
March 21, 2011, 9:44 AM
Quick Note: Google Chromebooks Now Coming with 1TB of Google Drive Space
November 21, 2014, 1:20 PM
Xiaomi Aims to be #1 Smartphone OEM Within 10 Years, Apple Urges Caution
November 21, 2014, 9:33 AM
Quick Note: Samsung's Request to Dismiss Microsoft Lawsuit is Rejected
November 20, 2014, 12:53 PM
Amazon Offers "The Washington Post" Free for Six Months to Kindle Fire Owners
November 20, 2014, 7:41 AM
Apple Watch Screen Resolution, App Limitations are Laid Bare by Developer Kit
November 19, 2014, 11:31 PM
Apple Replaces “FREE” Label with “GET” on App Downloads in iTunes App Store
November 19, 2014, 5:38 PM
Most Popular Articles
Wal-Mart: Miss Thanksgiving, Get Xbox One + Master Chief Collection for $299
November 17, 2014, 9:40 PM
Nokia Lumia 635 LTE Windows Phone is Only $40 at Best Buy on Black Friday
November 18, 2014, 11:59 AM
Sweden Mulls Labelling "Sexist" Video Games in the Wake of Gamergate
November 17, 2014, 2:00 PM
It's Official: Twitter is Profitable "Junk"
November 16, 2014, 10:45 PM
Austrian Pilots Call Surface 3 Pro Flight Bag a "Dream Come True"
November 14, 2014, 2:00 PM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information