US. F&B specialist HMSHost has teamed up with a group of leading US companies to develop a mobile payment network.
The joint venture, called Merchant Customer Exchange (MCX), is developing “˜mobile wallet’ technology which will allow customers to download applications onto their smartphones and pay at the cash register by scanning their phone against a reader.
Alongside HMSHost, participating companies include 7-Eleven, Wal-Mart Stores, Alon Brands, Best Buy Co, CVS/pharmacy, Darden Restaurants, Hy-Vee, Lowe’s, Publix Super Markets, Sears Holdings, Shell Oil Products US, Sunoco Inc and Target Corp.
HMSHost said that these initial members combined serve nearly every smartphone-owning US citizen and account for approximately US$1 trillion in annual sales.
Wal-Mart Corporate Vice President and Assistant Treasurer Mike Cook said: “MCX will leverage mobile technology to give consumers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders. 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.”
Target President of Financial and Retail Services Terry Scully added: “We believe MCX is uniquely qualified to offer the most comprehensive mobile payment options for consumers. By participating in MCX, merchants are in a position to effectively deliver innovative payment approaches that aren’t available today.”
MCX expects to announce additional members during the coming months. For more information visit www.mcx.com or email info@mcx.com.
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