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A New Mobile Messaging App Combines Communication With Commerce

By Amy Hoke
April 21, 2014
in Analysts Coverage
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Amex CEO: Corporate Cards Continued To Disappoint - PaymentsJournal, Mobile Messaging

modern office meeting room interior

Messaging apps used to be simple. You’d send a text, share a photo, maybe make a call. Now, they’re becoming something much bigger. A new wave of mobile platforms is blending everyday communication with built-in commerce, turning conversations into places where people can discover, browse, and buy without ever leaving the app. It’s a shift in how people interact with brands and with each other. Instead of switching between apps, everything happens in one seamless experience.

CVS Caremark Corp. last week introduced an interactive mobile shopping app for Apple Inc. iPads that reportedly could illustrate the Merchant Customer Exchange (MCX) venture’s potential.

MCX is a merchant mobile-payments venture involving various retailers, including such behemoths as Target and Walmart, which have yet to announce agreements on strategy, technology, and other issues. It also has yet to release a product, but one of the technologies MCX says it will support is the use of QR codes to facilitate payments.

From the PaymentsSource article:

“MCX has said that its app will initially be primarily bar code- and cloud-based. To the extent that the CVS app operates that way, there would be some similarities,” said MCX spokesman Jeremy Mullman.

Trying to compare what MCX intends to do with what CVS is doing with its mobile app is a bit of stretch. But the market has been left to speculate what MCX’s ultimate product might look like because the organization is disclosing few details to the public. Though it has yet to produce a mobile wallet, the market cannot ignore an organization whose members represent more than $1 trillion in annual sales and 75,000 combined store locations in the United States. And because of the breadth of MCX’s participating retailers, it’s best to keep an eye on the venture, which has considerable market-disruption potential.

Click here to read more from PaymentsSource.

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