Major retailers team-up over mobile wallet service

Merchant Customer Exchange - MCX

A group of leading merchants in the U.S. has formed Merchant Customer Exchange (MCX), a new company that will offer consumers a “versatile mobile-commerce experience,” combining the convenience of paying at the register with customizable offers.

MCX’s mobile application is in development as we speak with initial focus on offering merchants a mobile-commerce solution capable of seamlessly integrating a wide range of consumer offers, promotions and retail programs. The application will be available through virtually any smartphone.

Among MCX merchants we find such big names as 7-Eleven, Alon Brands, Best Buy, CVS/pharmacy, Darden Restaurants, HMSHost, Hy-Vee, Lowe’s, Publix Super Markets, Sears, Shell Oil, Sunoco, Target and the big daddy – Wal-Mart. Combined, these companies serve nearly every smartphone-enabled American and account for approximately $1 trillion in annual sales.

But that’s not all, MCX expects to announce additional members during the coming months some of which may not be merchants at all — they talk about addressing the needs of financial institutions and merchants of all sizes to better serve consumers. We’ll see how that goes…

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