Question of the Week: Big-Name Retailers Launch a Mobile Application

Last week came news that a bevy of big-name retailers, including Wal-Mart, Best Buy and Target, are teaming up to create a company that will give consumers another way to make purchases: with their cellphones.

The businesses said that the new company, Merchant Customer Exchange, is developing a mobile application for any smartphone that will integrate a variety of coupons, rebates and loyalty programs.

Why is there a need for another mobile payment option for consumers, with competitors to the new company including Google, three of the biggest cellphone companies, leading payment networks Square and PayPal, to name a few?

The retailers claim that no one understands their customers’ shopping and payment experience better than they do, and they're confident that together they can develop a technology solution that makes that experience more engaging, convenient and efficient. Do you agree? And are you interested in trying out this service? Let us know your thoughts by going to Retail Online Integration's Facebook page to comment. We'd love to get a conversation going on this important topic. Thanks!