Wal-Mart, Target Among Merchants Planning Their Own Mobile Wallet

By  |  August 15, 2012
 | 

A group of merchants including such big names as Wal-Mart Stores and Target is preparing to launch its own mobile payments play, the Wall Street Journal reports.

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    More than a dozen companies are prepared to announce the joint development of a new mobile payments network called the the Merchant Customer Exchange. A launch date hasn’t been set, the Journal says, nor has a CEO been named. But the report does confirm that this new ventue is designed to “battle similar services from Google Inc. and other companies.”

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    Best Buy, Lowe’s, CVS Caremark, Royal Dutch Shell, Sunoco, Sears, Darden Restaurants and 7-Eleven are also part of the group of fourteen merchants preparing to launch their own mobile payments platform. 

    Read the full story here.


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