Arkansas Business

“Those are all huge upgrades over the status quo in terms of engagement,” Mullman said.

The move to MCX also could be a savings to merchants, Mullman said.

“Frankly there’s some unnecessary costs in sort of the old way of doing things,” he said. And if it’s reduced, then all that could lead to savings for customers as well, Mullman said. But he couldn’t say specifically how much in savings merchants could see by using MCX.

Wal-Mart’s Hargrove said he didn’t know what the retailer expected to save in transaction fees from credit card companies once the MCX digital wallet was ready for consumer use.

Wal-Mart is “still looking at that,” he said. It “hasn’t gotten to that level of discussion.”