- Merchant Customer Exchange (MCX), owned by major U.S. retailers, selects FIS to power its payments network for secure, real-time mobile payment transactions.
- This new agreement showcases FIS’ leadership position in delivering premier payments network and mobile-driven financial service solutions to banks and retailers of all sizes.
- Consumers will be able to use smartphones and tablets to purchase goods and services, offering consumers a personalized payment experience integrated with participating merchant offers, promotions, loyalty and other services at their favorite MCX merchants.
Consumers who buy goods and services from MCX members will soon be able to pay using virtually any smartphone or tablet at the point of sale. MCX selected FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, to power its new mobile commerce payments network.
The relationship with MCX strengthens FIS’ cross-industry leadership position in delivering innovative payments network and mobile-driven financial services solutions to banks and retailers of all sizes. MCX members include leading merchants that account for an estimated $1 trillion in annual sales. Virtually any U.S. consumer with a smartphone will be able to use MCX’s mobile-commerce network, leveraging FIS’ real-time payments network infrastructure and expertise to authorize and execute transactions in real-time, ensuring secure and instantaneous payments.
“FIS is honored to partner with this group of leading merchants to provide transaction services to enable a safe and easy mobile payment offering,” said Nancy Langer, EVP, Money Movement, FIS. “We understand deeply that financial institutions and retailers desire best-in-class mobile payment services to enhance relationships with their customers. Through our payments network technology and experience, we will enable MCX merchants to provide their customers with the ability to shop and pay via their mobile devices.”
FIS will provide MCX with a suite of services that will help bring its mobile commerce solution to the marketplace, including world-class payment processing, payments network infrastructure, routing and settlement, allowing MCX to authorize and execute transactions in real-time. FIS’ premier transaction processing solution is used by all sizes of financial institutions, networks, retailers and third-party processors worldwide.
“When we were looking for a payments network partner, FIS was the standout choice,” said MCX’s Dodd Roberts. “FIS’ ability to deliver a payments network that meets MCX requirements, coupled with their depth of payments knowledge, experience and expertise embody what MCX will offer its customers – a cutting-edge, highly reliable, versatile mobile payments network platform.”
MCX was created by a group of the nation's leading merchants with a singular purpose of offering consumers a customer-focused, versatile and seamlessly integrated mobile-commerce platform.
The company is led by merchants such as 7-Eleven, Inc.; Alon Brands; Bed Bath & Beyond Inc.; Best Buy Co., Inc.; Brinker International, Inc.; Circle K; CVS/pharmacy; Darden Restaurants; DICK’s Sporting Goods; Dillard’s, Inc.; Dunkin’ Brands; Gap Inc.; HMSHost; Hobby Lobby Stores, Inc.; Hy-Vee, Inc.; Kohl’s Department Stores; Lowe’s; Meijer; Michaels Stores, Inc.; Pacific Convenience & Fuels LLC; Phillips 66; Publix Super Markets, Inc.; QuikTrip Corporation; RaceTrac; Sears Holdings; Sheetz, Inc.; Shell Oil Products U.S.; Southwest Airlines; Sunoco, Inc.; Target Corp.; Wakefern Food Corp.; Wal-Mart Stores, Inc.; and Wawa.