It’s been over a year since Google Wallet came onto the market. Since then, there has been some traction with some vendors supporting it. While device support hasn’t been as broad, Apple’s inclusion of Passbook into the forthcoming iOS 6 will undoubtedly make mobile payment more mainstream. Microsoft has also gotten into the game with its own version of a mobile wallet.
This week saw a slew of mobile payment developments, but not from the usual tech company suspects. The New York Times reported that Walmart, Target, 7-Eleven and others formed a network to standardize mobile payments called Merchant Customer Exchange (MCX). The cross-platform app is designed to work across most smartphone platforms and can handle all major credit cards. Clearly, these retailers do not want to cede payment control to other vendors and are doing whatever they can to build a version of their own.