Mobile Wallet Outlook, November 2012

Mobile Wallet Outlook, November 2012This 18-page edition of The Mobile Wallet Report examines: Retailers get serious about mobile wallets; The bank account of the future and the move to mobile; Mobile network operators “keep calm and carry on with NFC”; and more…

  • Retailers get serious about mobile wallets. That widespread merchant acceptance is a core requirement of any successful mobile wallet program is a given. Until now, however, many players have seen merchants as minor participants in the move to mobile payments — there to simply act as a delivery point for other people’s wallet strategies. That’s not, however, what merchants increasingly think their role is and US retailers are taking the lead in making it clear that, when it comes to mobile wallets, they have strategies of their own and the resources to make them a reality. See page 2.
  • The bank account of the future. The move to mobile is creating an opportunity for new players to provide new kinds of mobile bank account — in the developed world, just as much as in the developing world. Banks are racing to implement mobile banking services but they are facing increasing competition from companies building low cost, full function alternatives on top of existing prepaid card offerings. How will the move to mobile change the definition of what a bank account is? Are banks doing too little in mobile too late? What are the implications for the wider financial services industry and, in particular, for the long term future of the credit card? See page 7.
  • Mobile network operators “keep calm and carry on with NFC.” While debate continues to rage in the US over which technology is best suited to close the “last inch” of a mobile transaction at the point-of-sale, mobile network operators remain confident that SIM-based NFC is a winning formula and that momentum is now building around the world. Will the US prove to be a blueprint for the rest of the world, or is it set to go its own way? See page 17.

Organisations mentioned include American Bankers Association, American Express, Auriemma Consulting, BBVA, Best Buy, Blackhawk Network, Bluebird, Bretton Woods, British Retail Consortium, CIBC, CVS/pharmacy, Carlisle & Gallagher Consulting, China Mobile, China UnionPay, Deutsche Telekom, Diebold, Discover, Dwolla, FDIC, First Annapolis Consulting, FIS, GSMA, Gap, Google, Isis, MasterCard, mFoundry, Micronotes, Orange, PayPal, Rogers, Royal Bank of Canada, Seamless, Telecom Italia, Telefónica, Tesco, Turkcell, US Bank, uSwitch, Virtual Hold Technology, Visa, Vodafone, Walmart and The World Bank.

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This item is part of the Mobile Payments Knowledge Centre.