BENTONVILLE, AR ? Speaking at a mobile payments panel discussion earlier this week, Mike Cook, vice president and assistant treasurer for Walmart, said the retailer would not join Google Wallet, Isis, NFC or Square, Mobile Payments Today reports.
Rather, Cook said Walmart would focus its mobile payments efforts behind the Merchant Customer Exchange (MCX), a merchant-driven mobile payment network.
Cook explained that Walmart is interested in a ?holistic solution? for mobile payments that provides interaction while solving for multiple use cases, something that MCX will provide.
"MCX is more effective," Cook said. "One of the principles of MCX is that we wouldn't just replicate the fraud prone system that's out there today."
Cook also directly rejected the prospect of working with a third-party mobile provider like Google Wallet, saying he didn?t see the value for Walmart.
"Obviously Walmart is interested in partnering," Cook said. "But as of now I'm not sure there's a value-add or synergy there to make it work."
Cook said one of the problems with third-party providers is the relinquishment of consumer data, something Walmart wasn?t willing to do.
"Many of the models out there today are just adding another mouth to feed," he said.