The Merchant Customer Exchange (MCX), a consortium of the nation's largest merchants, formed a year ago to lead a mobile payments platform. Since then it's spent most of its time building membership, and determining its course of action.
Among the merchant consortium's most notable developments is the hiring of its first CEO, Dekkers Davidson, a former bank executive. Davidson launched a cloud-based mobile wallet in his former role as managing director at Barclaycard.
MCX has been steadily building its momentum and adding merchants to its group. MCX member merchants now comprise of more than 20 of the National Retail Federation's top 100 merchants. Collectively, these merchants operate 90,000 stores and process more than $1 trillion in payments each year.
While MCX has only shared its plan for a mobile payments platform in the broadest strokes, it's also made several points clear. During previous SourceMedia conference presentations to largely bank-dominated audiences, Dodd Roberts, MCX's senior executive stated that the group is not interested in getting in the payments business. He's also made clear that MCX is seeking win-win partnerships with banks.
To get more details about MCX's plans, as well as hear directly from its member merchants, including Brinker, Kohl's, Lowes and Publix, attend the ATM, Debit and Prepaid Forum.