MCX, the retailer consortium formed to develop a competitor to Apple Pay, lost its lead partner today when Walmart announced its own system, Walmart Pay, which works in concert with the Walmart app along with Savings Catcher. In so doing, Walmart said it laid claim to the only mobile payment system that works with with all credit and debit cards and all iOS and Android devices.
Other participants in MCX (for Merchant Customer Exchange) include Best Buy, CVS, Darden Restaurants, Lowe’s, Sears, Shell Oil, and Target. Working with so many demanding retail partners, all testing different capabilities of its CurrentC payment system, apparently tested Walmart’s patience. Customers were moving to mobile in a big way and senior management wanted to make a move, as well.
“The timing couldn’t be better to share this news given what we saw over the holiday weekend,” said Neil Ashe (above), president and CEO of Walmart Global eCommerce, in a video introducing Walmart Pay. “Nearly half of our customers bought their orders on a mobile device. That’s double last year and significantly higher than the industry average.”
The world’s largest retailer was also dissatisfied with other mobile wallets available. “The other solutions are limited to only certain types of phones, operating systems, or certain payment types—and sometimes all three of those,” said Daniel Eckert, SVP Services for Walmart U.S.
Walmart Pay will be introduced in select stores during the holiday season, with full U.S. rollout expected by the first half of 2016.
