Paydiant Technology to Drive Mobile Payments for MCX
Feb. 13, 2014
Yesterday, at least some of the mystery surrounding the Merchant Customer Exchange (MCX) became clear. The retailer-led mobile payments initiative said it would add Wellesley, Mass.-based payment provider Paydiant to its platform. Paydiant offers mobile wallet capability retailers can brand and their customers can use to pay at the POS using existing hardware.
MCX has been tight-lipped about what technology will drive their system. Paydiant’s technology leverages QR codes, which consumers scan using their smartphone at the POS to access payment credentials stored in the cloud. The MCX press release, which said it will “add” Paydiant’s technology to its “mobile commerce infrastructure,” suggests other technologies could be included as well. For the moment, however, it seems it will focus on giving a way for its retailers to offer mobile payments without requiring any hardware changes at the POS.
“We are looking forward to working with MCX to remove the primary obstacles that retailers can face when adopting a mobile payments infrastructure by providing members with greater control over the customer experience,” said Kevin Laracey, CEO and founder of Paydiant. “As a result, merchants can engage their customers with the convenience of mobile payments along with personalized offers, promotions and programs that build customer loyalty and increase share of wallet.”
At the same time, MCX revealed that national fast-food chain Wendy’s has become the most recent retailer to sign on with the mobile payment initiative. MCX also added an Ohio-based regional grocery chain called Acme Fresh Market.