Just recently Square has partnered up with Starbucks for a mobile payment platform. This caused other major food companies to rethink their payment options. For this reason, McDonalds has started testing 30 different stores in France with a new Paypal payment solution. If this payment system proves itself worthy, then McDonalds will pass it on to other stores in around 24 months. So whether you chose Paypal, or Square, new payment options will always pop up, so think twice before you pick.
Mobile payment platforms are making their way into our phones. Companies see this as a big opportunity to make a lot of money, the only problem is, how to get consumers hocked up on their platform. The solution is to get a bunch of big retailers together and unit them into your mobile payment system. That’s easier said then done, as those retailers have decided to form their own mobile payment system and leave Google, Visa, and other humongous companies from taking a slice at the mobile payment platform. Best Buy, Walmart, Target, 7-Eleven, Shell, Sears, CVS and many more have named their united mobile payment system Merchant Customer Exchange. So it’s possible that in the near future you’ll be paying via your phone, everywhere and not where only Google Wallet is accepted.
Source: MCX, ABC
Posted in Finance
- Tagged Best Buy, BestBuy, business, cvs, Lowes, mcx, Merchant Customer Exchange, MerchantCustomerExchange, mobile, Mobile payment, mobilepostcross, payment, Sears, Shell, Target, wallet, Walmart