It turns out that CVS is one of about 40 merchants in a consortium that formed in 2011 to develop their own mobile-phone-based payment system. The consortium, called the Merchant Customer Exchange, or MCX, is in large part all about eliminating, or at least reducing, the fees banks charge retailers for swiping credit cards.

I simply believe that people who respect their customers and have faith in their own technology products should welcome competition and that consumer choice should be a paramount value in retailing.

Even Apple, notorious for keeping a tight grip on its products, allows fierce competitors like Google, Amazon, Spotify, and Microsoft to offer their apps on its phones and tablets.

Walt Mossberg Quotes