Major Retailers Form Company That Will Create a Mobile App for Faster, Easier Shopping

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 Wednesday that the new company, Merchant Customer Exchange, is developing a mobile application that will be available for nearly any smartphone. The app is expected to integrate a variety of coupons, rebates and loyalty programs.