The face of the checkout line could change in the near future after several retailers including Best Buy, Wal-Mart and Target have formed the Merchant Customer Exchange with hopes of bringing mobile payment options into brick and mortar stores.
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Although the new purchase program is still in development, MCX said in a statement that the “initial focus” will center around offering promotions, retail programs and the ability to pay for products on any smartphone.
Best Buy’s Mark Williams said in the release stating the MCX platform will make shopping “more engaging, convenient and efficient.”
Currently there are 15 participating merchants who have signed on to program including retailers Lowes, Sears, Target, Wal-Mart, Best Buy and CVS. MCX said that it expects to announce additional members during the coming months.
Erin Lynch is the associate editor at Multichannel Merchant. Erin can be reached at 203-358-3755 or by emailing her at [email protected]. You can also follow her on Twitter at @LynchMCM or on LinkedIn.