A group of big-name U.S.-based retailers have teamed up to create a mobile-commerce company called the Merchant Customer Exchange (MCX). MCX will compete with current up-and-coming mobile commerce players like Google Wallet, PayPal, Square, LevelUp, Dwolla, and a new mobile carrier led commerce effort called Isis.
MCX currently includes big-name merchants 7-Eleven, Alon Brands, Best Buy, CVS, Darden Restaurants, HMSHost, Hy-Vee, Lowe’s, Publix, Sears, Shell Oil, Sunoco, Target, and Wal-Mart.
MCX says that it’s already developing a mobile application that will be capable of “seamlessly integrating a wide range of consumer offers, promotions and retail programs.” MCX says the application will be available “through virtually any smartphone,” which likely means devices running Android, iOS, Windows Mobile, and perhaps even the upcoming BlackBerry10 — although no such platforms were mentioned specifically.
“MCX will leverage mobile technology to give consumers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders,” according to Mike Cook, Wal-Mart’s corporate vice president and assistant treasurer. “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.”
MCX expects to announce additional members during the coming months. The organization has a website — mcx.com — however the site has not yet posted specific details about the mobile application or a launch date.
The mobile payments industry is expected to generate $1.3 trillion by 2017, according to Juniper Research, so it’s not surprising that everyone from retailers and banks to mobile operators all want a slice of that pie.
