MCX – whose member companies process more than US$1 trillion in payments every year – has selected Gemalto to build its mobile wallet
Mobile wallets have been touted for a few years now as the next big thing in online payments. The technology, which turns a mobile phone into a secure digital wallet, is a key part of the wider trend whereby the mobile is rapidly becoming the single most versatile device an individual owns.
One of the newest entrants to this burgeoning market is already one of the biggest. Founded in 2012, Texas-based Merchant Customer Exchange (MCX) is backed by leading merchants such as 76; 7-Eleven; Alon Brands; Bed Bath & Beyond; Best Buy; Brinker International; Circle K; Conoco; CVS/pharmacy; Darden Restaurants; DICK’s Sporting Goods; Dillard’s, Inc.; Dunkin’ Brands; Gap; HMSHost; Hobby Lobby Stores; Hy-Vee; Kohl’s Department Stores; Lowe’s; Meijer; Michaels Stores; Pacific Convenience & Fuels; Phillips 66; Publix Super Markets; QuikTrip Corporation; RaceTrac; Sears Holdings; Sheetz; Shell Oil; Southwest Airlines; Sunoco; Target; Wakefern Food; Wal-Mart; and Wawa. Its owner-members include leaders in the big-box, convenience, drug, fuel, grocery, quick- and full-service dining, specialty retail, and travel categories. These companies collectively operate nearly 90,000 stores and process more than US$1 trillion in payments annually.
MCX has chosen Gemalto to build its mobile wallet, which will be primarily barcode- and cloud-based when it launches. MCX will use Gemalto’s mobile-wallet software to create a rich smartphone application, as well as development kits to enable retailers to embed the wallet functionality within their own applications.
Once it is fully deployed, the wallet will be accepted at all MCX member stores. Consumers will have access to a personalized payment experience integrated with merchant offers, promotions, loyalty and location-based services, which they will be able to use at many of the large retailers at which they regularly shop. As this and similar services grow, the sight of consumers tapping or scanning phones on a terminal to pay for goods will soon be commonplace – and lines at checkouts will get shorter.
Last edited on August 06, 2013