A group of major retailers in the US announced plans to jointly develop a mobile payments network. The Merchant Consumer Exchange or MCX will develop a mobile payment app for consumers to use their smartphones to pay at cash registers. The platform also plans to integrate a wide range of consumer offers, promotions and retail programmes for participating retailers. Merchants involved in the venture include Best Buy, CVS Caremark, Lowe's, Royal Dutch Shell, Publix Super Markets, Sears Holdings, Alon Brands, Darden Restaurants, Hy-Vee and HMSHost unit of Autogrill. A launch date for the mobile payments app has not yet been set by MCX. The group aims to announce new members in the venture in the coming months.
