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Google Wallet Gains Competition

By August 17, 2012June 26th, 2021Technology News

Up until now, mobile payment options have been limited, and few have been cheap enough or handy enough to seriously compete with Google Wallet. However, over a dozen retailers announced earlier this week that they will be launching their own mobile-commerce business.

Among the companies that made the announcement are Lowe’s, Wal-Mart, Best Buy, and Home Depot. The consortium of companies is calling their new business Merchant Customer Exchange, or MCX. MCX was just launched, so the features are currently limited. However, it is in the process of developing a mobile app that would allow the option of purchasing goods at participating stores with mobile phones. MCX claims that the new application will work on most smartphones, and will automatically enroll the user in retail programs and offer customers deals and coupons based on their buying habits.

“MCX will leverage mobile technology to give consumers a faster and more convenient shopping experience while eliminating unnecessary costs for all stakeholders,” said Wal-Mart vice president Mike Cook when asked about MCX. “The MCX platform will employ secure technology to deliver an efficiency-enhancing mobile solution available to all merchant categories, including retail stores, casual dining, petroleum and e-commerce.”

This could post a significant threat to Google Wallet, mostly because currently Google Wallet’s application only works on Android-based phones. The application has also not launched as quickly as some would like to see, but speed wasn’t required when it had so few competitors.

Google may have trouble finding the correct niche in which to exist now that retailers are piling on to the MCX boat. Some critics say that now that MCX has so many partners, some of those partners may want nothing to do with Google Wallet.

 

Jason Manteiga

Jason Manteiga

Jason J. Manteiga, Vice President of Olmec Systems, has been part of the company for over the past 20 years. He believes that having a great work environment and supportive team, is the ultimate key to success. Since being in the IT realm for over 25 years, Jason, along with Olmec Systems, has been on the Inc. 5000 “List of America’s Fastest Growing Private Companies” and Channel Futures MSP 501 “Top Managed Service Providers in North America,” along with other awards and nominations. Jason earned his Bachelor Degree in Information Systems from the New Jersey Institute of Technology. He also holds certifications in Microsoft MCSE, VMWare VCP, and Cisco CCNA. In his spare time, Jason is a contributor for The Center for Social & Legal Research (Privacy Exchange) and a member of the Morris County Chamber of Commerce. His hobbies include cycling and kayaking. He currently lives in New Jersey with his wife, two daughters and son.

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