Phillips 66 has joined the retailer-driven Merchant Customer Exchange mobile payments and commerce initiative, the Houston-based gas station chain announced May 23. Phillips 66 also operates Conoco stations. The company joins MCX only two weeks after the mobile payment venture added another petroleum provider, Pacific Convenience & Fuels LLC.
Since the major retailers announced plans to create a new company and form their own mobile payment system more than a year ago, MCX representatives have touted the strength the initiative will have through members, which include Wal-Mart Stores Inc., Target and Lowes.
Though specific details about how the consumer-facing mobile pay system will operate have not been revealed, MCX has disclosed it will utilize cloud-based storage and use bar codes as the core technology.
MCX offers "unmatched scale," representing merchants with more than 80,000 stores who collectively handle $1 trillion in payments each year, Phillips 66 states in a press release.
"With our industry continuing to change at a rapid pace, we've seen several opportunities to be innovatively responsive and help our customers secure new business that affects their bottom lines," Mike O'Connor, manager of programs and brand image at Phillips 66, says in the release.
Collectively, Phillips 66 operates more than 11,000 retail gas stations in the U.S. among all of its brands.
The addition of Phillips 66 is "the latest sign" of the momentum that MCX enjoys, MCX spokesman Jeremy Mullman states in an e-mail.