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"Big retailers such as Wal-Mart Stores, Target Corp and Japan’s 7-Eleven said on Wednesday that they are developing a mobile payment network, adding to the proliferation of options to let consumers pay with smartphones.
The system, known as Merchant Customer Exchange (MCX), is a retailer-led initiative that would match similar services from Google, which began operating its own system last year on its Android devices."
Yahoo! Finance
(Source: Yahoo!)
