DALLAS--(BUSINESS WIRE)--Merchant Customer Exchange (MCX) announced today that it has selected FIS™, the world’s largest provider of banking and payments technology, to provide a suite of services that will help bring its much-anticipated mobile commerce solution to the marketplace.
FIS will provide MCX with world-class payment processing, routing and settlement for mobile commerce transactions. FIS’ technology will seamlessly integrate with the mobile wallet software being developed for MCX by Gemalto. By leveraging FIS’ payments network infrastructure to authorize and execute transactions in real-time, MCX is dedicated to secure and instantaneous payments for their solution. MCX will offer consumers a personalized payment experience complete with offers, promotions, loyalty and other services.
“Today’s consumers are increasingly mobile centric and expect to leverage their mobile devices to perform a wide variety of financial services transactions,” said Nancy Langer, EVP, Money Movement, FIS. “FIS is investing in true payments innovation that creates new revenue opportunities for our clients while delivering a functionally rich experience for the customers they serve. We’re pleased MCX has chosen to leverage FIS’ payments network technology to deliver a seamless mobile commerce experience for millions of U.S. consumers that shop at these nationwide merchants.”
MCX also announced that Kohl’s Department Stores and Alimentation Couche-Tard Inc.’s U.S. convenience stores branded Circle K, are the latest leading merchants to join its ranks. These two new additions follow May’s announcements that included Phillips 66, Southwest Airlines and Brinker International, Inc., among others joining MCX.
Kohl’s and Couche-Tard rank 20th and 76th, respectively, on the National Retail Federation’s list of the top 100 merchants by revenue, meaning MCX now counts eight of the top 20, and over 20 percent of the top 100 merchants as members. This also includes Phillip 66, who ranks fourth on the 2013 Fortune 500 listing. Collectively, MCX’s 30-plus merchants operate nearly 90,000 stores and process over $1 trillion in payments annually.
“A growing list of America’s favorite brands, including Kohl's, Southwest Airlines, Chili’s Grill & Bar, and so many others, along with our elite technology partners, FIS and Gemalto, are the latest signs of strong momentum as MCX brings a widely accepted, securely delivered and customer-focused mobile payment solution to the marketplace," said Dodd Roberts, MCX Executive.
Founded in 2012, Merchant Customer Exchange (MCX) seeks to lead the shift to mobile payments by providing better shopping and paying experiences for customers and merchants alike. Backed by leading merchants such as Bed Bath & Beyond, Phillips 66 and Wal-Mart Stores, Inc., MCX’s owner-members include leaders in the big-box, convenience, drug, fuel, grocery, quick- and full-service dining, specialty-retail, and travel categories. These companies collectively operate nearly 90,000 stores and process more than $1 trillion in payments annually, giving MCX scale and ubiquity unparalleled within the mobile payments industry. The company is based in Coppell, Texas. For more information, visit http://mcx.com.