Merchant Customer Exchange (MCX) says it has selected FIS to provide a suite of services that will help bring its much-anticipated mobile commerce solution to the marketplace.
FIS will provide MCX with payment processing, routing and settlement for mobile commerce transactions.
FIS technology will integrate with the mobile wallet software being developed for MCX by Gemalto.
Todays consumers are increasingly mobile centric and expect to leverage their mobile devices to perform a wide variety of financial services transactions, says 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.
MCX also announced that Kohls Department Stores and Alimentation Couche-Tard US convenience stores branded Circle K, are the latest leading merchants to join its ranks. These two new additions follow Mays announcements that included Phillips 66, Southwest Airlines and Brinker International among others joining MCX.
Kohls and Couche-Tard rank 20th and 76th, respectively, on the National Retail Federations 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, MCXs 30-plus merchants operate nearly 90,000 stores and process over $1 trillion in payments annually.