The merchant-backed mobile wallet consortium, Merchant Customer Exchange (MCX), announced today its working with the technology company Gemalto.
"Gemalto's global experience and unparalleled expertise make it the ideal partner to develop a mobile wallet worthy of the stature of merchants backing MCX," says Dodd Roberts, an executive at MCX, in an April 17 press release. "Our work with them over the past months leaves little doubt that MCX will benefit from their considerable technical expertise."
The software-based MCX mobile wallet will run on the Allynis Mobile Payment platform from Gemalto. The partnership allows MCX to take advantage of software development kits to add payment functions to retailers' existing mobile apps.
MCX has said a "key feature" of its wallet will be its ability to work inside merchants' mobile apps.
Collectively, merchants signed on with MCX run more than 75,000 stores and annually process more than $1 trillion. During SourceMedia's 25th annual Card Forum & Expo, Roberts described the MCX strategy as "strength in numbers."
"The caliber and scale of the merchant organizations behind MCX creates opportunity to elevate mobile payments," says Jack Jania, senior vice president at Gemalto, in the release.
MCX was founded in 2012 and includes large retailers such as Wal-Mart Stores Inc., Target Corp., Dunkin' Brands and CVS Caremark Corp.