LEADING RETAILERS FORM MERCHANT CUSTOMER EXCHANGE TO DELIVER MOBILE WALLET

Press Release issued by MCX

MCX boasts unmatched scale and consumer insights for developing a mobile-commerce solution
DALLAS (August 15, 2012) – A group of the nation’s leading merchants announced today that it has
formed Merchant Customer Exchange (MCX), a new company dedicated to offering consumers a versatile
mobile-commerce experience that will combine the convenience of paying at the register with
customizable offers.

Development of MCX’s mobile application is underway. The initial focus centers on offering merchants a
mobile-commerce solution capable of seamlessly integrating a wide range of consumer offers, promotions
and retail programs. The application will be available through virtually any smartphone.
MCX includes merchants such as: 7-Eleven, Inc.; Alon Brands; Best Buy Co., Inc.; CVS/pharmacy; Darden
Restaurants; HMSHost; Hy-Vee, Inc.; Lowe’s; Publix Super Markets, Inc.; Sears Holdings; Shell Oil Products US; Sunoco, Inc.; Target Corp. and Wal-Mart Stores, Inc. Combined, these initial members serve nearly every smartphone-enabled American and account for approximately $1 trillion in annual sales. While
current MCX merchants have unmatched scale, MCX intends to address the needs of financial institutions
and merchants of all sizes to better serve consumers in the growing mobile marketplace.

“MCX will leverage mobile technology to give consumers a faster and more convenient shopping
experience while eliminating unnecessary costs for all stakeholders,” said Mike Cook, corporate vice
president and assistant treasurer, Wal-Mart. “The MCX platform will employ secure technology to deliver
an efficiency-enhancing mobile solution available to all merchant categories, including retail stores, casual
dining, petroleum and e-commerce.”

“We believe MCX is uniquely qualified to offer the most comprehensive mobile payment options for
consumers,” said Terry Scully, president of financial and retail services, Target. “By participating in MCX,
merchants are in a position to effectively deliver innovative payment approaches that aren’t available
today.”

“As merchants, no one understands our customers’ shopping and payment experience better than we do,
and we’re confident that together we can develop a technology solution that makes that experience more
engaging, convenient and efficient,” said Mark Williams, president of financial services, Best Buy.
MCX expects to announce additional members during the coming months.

Visit MCX at http://www.mcx.com or for more information, email info@mcx.com


Mobile Wallet Media is a media, analyst and consulting firm focused on the future of mobile commerce. The company mission is to highlight industry innovation and provide insights and opinions that will be relevant and forward-looking. The author, Randy Smith, is the primary founder, inventor and former CEO of MobilePayUSA, a TechCrunch Disrupt Startup Alley Winner.