Slideshow 8 Pieces to the MCX Merchant Mobile Wallet Puzzle

  • February 16 2014, 4:26pm EST
9 Images Total

The Merchant Customer Exchange's mobile wallet is still taking form. The retailer-driven initiative hasn't even given its product a name in the year and a half it's been in development, but a steady stream of news about its technology and partnerships show what the fully assembled product might look like. (Image: ThinkStock)


The most recent addition to the MCX toolbox is technology from Paydiant. This will allow cloud-based mobile payments, where consumers make payments through the app's software rather than waving the phone in front of a terminal. (Image: ThinkStock)

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QR code

MCX will also support QR codes. These two-dimensional bar codes can be displayed on a smartphone's screen to be scanned at the point of sale. (Image: ThinkStock)

An Expert CEO

Talent is as important as technology, which is why MCX picked a bank exec as its CEO last year. Dekkers Davidson has been called a "mobile payments rock star" for his earlier work at Barclays. (Image: ThinkStock)


MCX will run on Gemalto's Allynis Mobile Payment platform, allowing the MCX system to connect to retailers' existing mobile apps. (Image: ThinkStock)

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The merchant mobile wallet will also work with FIS for processing. This relationship allows MCX to connect to accounts at a large range of financial institutions. (Image: ThinkStock)

What's in a Name?

One missing piece to the MCX puzzle is its name. So far, the initiative has indicated only that it "will have a consumer name at some point that probably won't be MCX." (Image: ThinkStock)

Range of Retailers

Even without a product, MCX has aggressively worked to add to its already-strong roster of companies including mega-retailers Walmart and Target. Its most recent additions include gas stations, convenience stores and food sellers such as Wendy's and Acme Fresh Market. (Image: Bloomberg News)

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Final Form?

It's hard to tell what the final MCX wallet will be, but it may resemble the work of MCX member CVS, which uses QR codes to present product information and apply promotions. Whether this is a clue to the future or a red herring, MCX is meant to play well with retailers' existing apps, so the final product would probably complement CVS' technology instead of replace it. (Image: Bloomberg News)