Retailers to launch mobile app for payments

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Posted: 08/15/2012

NEW YORK (AP) — A bevy of big-name retailers including Wal-Mart Stores Inc., Best-Buy Co. and Target Corp. are teaming up to create a company that will give customers another way to make purchases with their mobile devices.

The businesses said Wednesday that the new company, Merchant Customer Exchange, is developing a mobile application that will be available through nearly any smartphone.

The companies say that using a mobile app will help to cut down costs and make shopping faster and more convenient for consumers.

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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