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Marketplace Tech Report for Thursday, August 16, 2012
Aug 16, 2012

Marketplace Tech Report for Thursday, August 16, 2012

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Target, Walmart, Lowe's, 7-11, Best Buy, a whole bunch of big retailers are teaming up on a new mobile payment system. It's called Merchant Customer Exchange or MCX and it will let you pay for things using your smartphone. They're not the only ones trying this. Google has the Google Wallet system. AT&T, Verizon and T-Mobile are planning to launch one soon as well. So why is everyone racing to join in? It's all about being most popular, and eventually getting the most data from you.

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Why retailers are teaming up for mobile payment

Aug 16, 2012
Data on customers is a lot more valuable than mere sales.

Target, Walmart, Lowe’s, 7-11, Best Buy, a whole bunch of big retailers are teaming up on a new mobile payment system. It’s called Merchant Customer Exchange or MCX and it will let you pay for things using your smartphone. They’re not the only ones trying this. Google has the Google Wallet system. AT&T, Verizon and T-Mobile are planning to launch one soon as well. So why is everyone racing to join in? It’s all about being most popular, and eventually getting the most data from you.

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