Some the nation’s leading merchants announced today the formation of the Merchant Customer Exchange, or MCX, a new mobile-commerce company that will support paying at the register with customizable offers.
Development of MCX’s mobile application is under way. The initial focus centers on offering merchants a mobile-commerce service capable of integrating a wide range of consumer offers, promotions and retail programs seamlessly. The application will be available through virtually any smartphone, according to a news release.
MCX includes merchants such as 7-Eleven Inc., Alon Brands, Best Buy Co. Inc., CVS/pharmacy, Darden Restaurants, HMSHost; Hy-Vee Inc., Lowe’s, Publix Super Markets Inc., Sears Holdings, Shell Oil Products US, Sunoco Inc., Target Corp. and Wal-Mart Stores Inc.
Combined, these initial members serve nearly every smartphone-enabled American and account for approximately $1 trillion in annual sales. MCX intends to address the needs of financial institutions and merchants of all sizes to better serve consumers in the growing mobile marketplace, the release notes.
“MCX will leverage mobile technology to give consumers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders,” Mike Cook, Wal-Mart corporate vice president and assistant treasurer, said in the release. “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.
