DALLAS — A group of merchants, including Wal-Mart Stores, Target, Publix Super Markets and Hy-Vee, announced today that it has formed a company to develop a mobile-payment platform with customizable offers.
The company, called Merchant Customer Exchange (MCX), also includes merchants such as 7-Eleven, Alon Brands, Best Buy, CVS/pharmacy, Darden Restaurants, HMSHost, Lowe’s, Sears Holdings, Shell Oil Products US and Sunoco. MCX expects to announce additional members during the coming months.
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Development of MCX’s mobile application is under way. The initial focus centers on offering merchants a mobile-commerce solution capable of integrating a wide range of consumer offers, promotions and retail programs. The application will be available through virtually any smartphone.
“MCX will leverage mobile technology to give consumers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders,” said Mike Cook, corporate vice president and assistant treasurer, Wal-Mart, in a statement. “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.”
"We believe MCX is uniquely qualified to offer the most comprehensive mobile payment options for consumers,” said Terry Scully, president of financial and retail services, Target. “By participating in MCX, merchants are in a position to effectively deliver innovative payment approaches that aren’t available today.”
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