Artificial Intelligence

Merchant Customer Exchange is the name of a new mobile payments group in which Walmart and other leading retailers are involved.

Expectations are high that mobile payments represent the future of commerce and group of leading retailers this week formed a new organization to offer an alternative way to pay.

The group is called the Merchant Customer Exchange and currently consists of 14 retailers. Plans call for development of a payment application available for smartphones that offers secure technology to process transaction.

Black & Decker has introduced the GYRO 4V MAX Lithium-ion Rechargeable Screwdriver (BDCS40G), a motion-activated screwdriver that controls variable speed and direction. The variable speed feature and direction change that occurs with a twist of the wrist provide improved control.

With the screwdriver’s gyroscopic technology, users only need to rotate their wrist one-quarter turn to the right for forward or left for reverse.

BENTON HARBOR, Mich. — KitchenAid has introduced new freestanding French door refrigerators that utilize a system of cutting-edge advancements to help extend the storage life of both fresh and frozen ingredients. These latest models join a collection of freestanding side-by-side models available with its Preserva Food Care System, designed to control the humidity, ethylene gas and odors that can rob foods of their freshness.

Michaels Stores is taking its energy conservation efforts to the next level. The arts and crafts retailer has rolled out several advanced extensions to its energy management system. The extensions are expected to bring Michaels’ total EMS-related savings to more than 30%.

The Annual State of the Industry Report is the centerpiece of this issue of Chain Store Age, and it’s a great read. It’s also very timely.

By Steven Kramer, [email protected]

Fashion and apparel retailers are using multichannel retailing to augment the in-store experience for brand conscious shoppers. In the process, they’re delivering a compelling customer-centric expression of the retail brand that elevates the destination status of their physical stores.

San Jose, Calif. -- Beall's has agreed to use VeriFone Systems' recently introduced MX 915 payment and media-enabled solutions system. Beall’s also will be complementing the MX 915 with VeriFone HQ, an estate management solution allowing the retailer to keep stores up to date with evolving payment and mobile solutions.

San Diego -- EcoATM, a start-up known for its innovative kiosks that fully automates the buy-back of used mobile phones and other portable electronics, has made its first major expansion outside of California by installing 28 kiosks in malls throughout Texas. The automated kiosks, which are typically located in malls and grocery stores, allow people to exchange their used or broken electronics, ranging from iPhones to MP3 players, for cash.