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Big Retailers Step Up Efforts On Mobile Purchases

Have you walked into a store wondering if your credit card is good enough to get accepted in that store? While waiting for your turn at the checkout counter, most of us have to deal with this mind-numbing question: credit card, debit card or plain cash. Now it may be time for you to add one more mode of payment to this list; your smartphone. Don’t wonder when your humble smartphone comes to your aid at the checkout counter.  That’s because Wal-Mart, 7-Eleven and CVS along with many other mega retailers are planning to form a company that will let customers like us pay for our purchases with our smartphone.  This group of big retailers has essentially joined the long list of businesses that have been scurrying to find a place in the growing mobile payment market.

The companies, so far, have given very few details regarding this newly formed mobile payment network. Although we have been told that this network would be called the Merchant Customer Exchange, the companies are mum about the technology or the approximate time it would take to be released to the public. But there is one thing they have been very clear about. And it’s the fact that this application will be available in almost all smartphones regardless of the smartphone’s make. Since safety and security is of paramount importance when it comes to mobile payment, we have been assured that Merchant Customer Exchange will make use of advanced technology that will keep transactions secure.

The idea behind this coming-together of big retailers is that these retailers together make more than a trillion dollars in annual sales. Being in the service industry for a long period, they have come to understand the buying behavior and shopping habits of customers. They also know customers general payment preferences.  This makes merchants the right people to provide mobile payment to millions of customers.

Although the details we have presently are very sketchy, it is definite that such a move by a group of big retailers such as Wal-Mart and 7-Eleven is likely be a huge step in advancing the mobile payment technology. So far 14 big retailers have agreed to work together towards developing the mobile payment system but there are still more companies that have shown interest in it and are expected to join this force very soon.

The announcements from these big retailers to come together to develop a mobile payment network has come a week after Starbucks announced that it was teaming up with a lesser known start-up company called Square. Square is a company that allows people to pay for their purchases with their smartphones. By teaming together with Starbucks, the technology of Square will be brought into the mainstream very soon. By entering the very lucrative mobile payment network business, Starbucks seems to have opened the doors to more such collaborations. And the coming together of big retailers is one such sign that mobile payment is definitely a promising dimension of payment network system.

Although the smartphone payments surely have a long way to go before its technology is perfected, it is a definite sign that the mobile payment may eventually enter the mainstream. With the decision to form a payment network, this conglomerate of big retailers has paved way for other companies to enter the lucrative mobile market.

What does this mean to you? It means that cash may be moving closer towards its last ebb before it becomes a precious antique. Although smartphones won’t completely replace cash in hurry but the future seems to point that way.  You may do well to remember that the next time you reach out to pay for your purchase; you may in fact be looking for your smartphone and not your wallet.

Written By

Lance Goodman web and technology expert and works for, a site that offers savings and current information on Dish TV, as well as services.



  1. Lakshmi Balu

    September 3, 2012 at 6:30 am

    I would love to see mobile payments getting mainstream even in remotest village! Really, I do! Contactless payment modes could be the best payment methods when compared to a credit/debit cards. With leading card companies like Mastercard, visa and others teaming up under ISIS to promote NFC based payment technology I am happy to see the retailers too looking a way to mobilize their transaction. From restaurant owners to retail business entrepreneurs all will be benefiting heavily from mobile payments by also saving and earning the processing fees of the credit card companies and consumer satisfaction respectively.

  2. Michael

    September 19, 2012 at 4:47 am

    I appreciate this move of getting a new payment method. But I wonder how successful it will be particularly in terms of security. This is a major thing that can call off this move. But I am sure there would be apt security steps that will be taken care of.

  3. Michael

    November 12, 2012 at 10:39 pm

    Contactless payments seem do be doing okay but I think it will still be some time before it gets truly adopted by the average American consumer. On the other-hand mobile payment processing seems to be doing quite well.

  4. Seymour

    November 13, 2012 at 9:17 am

    Guys contactless has already taken off in full force in the UK, as of 2012 the banks have been issuing all of their customers with contactless cards and even if your mobile phone doesn’t have contactless capability you can get a sticker tab which goes on the back of your phone and acts in the same way.

  5. Fran

    April 2, 2013 at 3:36 pm

    I see more and more places accepting mobile payments now. Security is one problem that i worry about. If you have payment on phone and loose phone you will loose cash also. I still cannot believe how many people use debit card when they offer no protection and no extended warranty on purchases like some credit cards do. I know some people will use mobile payments all the time instead of cash but i still do not think everyone will use it and give up cash or credit cards.

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