Payments News

How retailers benefited from the MCX mobile wallet's failure

Aug 27, 2019

CHICAGO — If the retail giants' Merchant Customer Exchange payments venture collapsed under the weight of trying to create a one-size-fits-all mobile wallet to bypass card networks, then the implosion of that joint venture was the best thing that could have happened.

Rather than focus on a single common platform for mobile payments, each retailer has turned its attention inward, building up platforms to improve the consumer experience and make the most of the data offered through any digital payment system.

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