August 19, 2012
Wal-Mart, along with a bunch of its fellow merchants, is about to make a serious entrance into the mobile-payments scene. In concert with more than a dozen other companies, the retail giant pulled open the curtain this week on a the "Merchant Consumer Exchange," or MCX. Aside from offering merchants the chance to take control of how money will flow through their stores in the future, the MCX also presents a clear threat to Google's "Google Wallet" initiative. And with mobile payments expected to more than triple to $600 billion by 2016, it's a safe bet that the competition is only getting started.
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