US merchants have formed a company that will allow customers to make payments and receive rewards by using their smartphones.
The joint venture is named Merchant Customer Exchange and it is currently creating a mobile app that will integrate customer offers, retail projects and promotions from the participating retailers.
According to MCX the app will be running on any smartphone.
MCX is taking advantage of the mobile technology to provide their customers more convenient and faster shopping experience eliminating stakeholders and unnecessary costs. The system is making use of a secure technology to provide an efficient mobile platform available to all merchants including petroleum, retail stores, e-commerce and dining.
MCX include merchants such as CVS/pharmacy, HMSHost, Publix Super Markets, Shell Oil, 7-Eleven, Best Buy, Alon Brands, Darden Restaurants, Sears, Sunoco, Walmart and Hy-Vee.
The members together account for $1 trillion yearly sales and nearly every phone in the US is using their mobile platforms.
In the coming weeks additional merchants will be announced.