Wal-Mart Stores, 7-Eleven, Shell Oil US, Best Buy and other big brands are to be served by a new cloud-based mobile payments system.

Their mobile payments provider MCX (Merchant Customer Exchange) has signed a deal with Gemalto to provide a cloud-based electronic payment system and support mobile-wallet apps that run on consumers' mobile devices.

The initial MCX wallet, which will be primarily barcoded and cloud-based, will run on Gemalto's Allynis Mobile Payment platform. MCX will also use Gemalto's mobile wallet software for a "rich smartphone application" as well as for development kits to enable retailers to embed the wallet functionality within their own applications, said MCX.

Once it is fully deployed the wallet will be accepted at all MCX members, which collectively operate more than 75,000 stores.MCX said consumers will have access to a "personalised payment experience integrated with merchant offers, promotions, loyalty and location-based services".

Rival mobile payments and analytics firm Bango recently secured a further £6.5 million in funding to help develop its business in emerging markets and shore up its balance sheet.

The Bango payments platform is used on Facebook, Blackberry World, Windows Marketplace, Amazon and brands including CNN, Cartoon Network and EA Mobile.