Retailers Form Merchant Customer Exchange (MCX) to Deliver Mobile Wallet
A group of the merchants announced that it has formed Merchant Customer Exchange (MCX), a new company dedicated to offering consumers a versatile mobile-commerce experience that will combine the convenience of paying at the register with customizable offers.
“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. “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.”
The initial group of MCX merchants "serve nearly every smartphone-enabled American and account for approximately $1 trillion in annual sales." The MDX website is located at www.mcx.com. The mcx.com domain is registered to First Data.
This looks like a good starting move for the merchants to engage for their own initiatives in the mobile payments business. One thing to add, if they can find one good solution for their intended service, it would be the best to begin with. For example, there is a payment business model that suffices 'one fits all' model of the state-of-the-art integrated payment platforms - on- and off-line, mobile and nfc.
When thinking of the purchase environment, this kind of a platform payment model would be the best to pick for their initial solution development, and further advancement.
Posted by: CY Lee | August 16, 2012 at 07:07 PM