Retailers’ efforts to develop their own form of mobile commerce took a step forward today the Merchant Customer exchange announced they have selected a payments processor for their system.
Merchant Customer Exchange (MCX), the mobile commerce joint venture put together by some of America’s biggest retailers, has selected FIS for the provision of payment processing, routing and settlement.
MCX has a processor, and it has selected Gemalto to build the mobile wallet software. As it adds links to its value chain, questions over where the funds will be held and how customers will get money in and out of the system still need to be answered. What is clear is that the project continues to build momentum and remains something that payment companies need to keep an eye on.
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