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The Question
Will there be one dominant digital wallet, several, or many?
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Wrong question... There will be only one interface to merchant terminals. The number of digital wallets is immaterial.
Merchants will not pay for multiple systems to interface with Google, Visa, Amex, etc. At the current rate, it will be 2020 before most US merchants will be able to handle payments from "smart devices," chip cards (contact or RFID) and mobile devices. Asking them to pay to handle multiple systems is beyond what they will put up with.
Coupled with the very limited value proposition for consumers, and you end up with one format, and a long implementation time.
Posted by Michael Scharf, 17/09/2011 6:25pm (8 months ago)
There will almost certainly be several digital wallets that offer different benefits to their users. While a Google Wallet or a VISA Wallet may serve as a primary mobile payment choice, others, like Paycloud, will offer the convenience of aggregating multiple loyalty programs and local couponing in addition. Just as most people carry more than one credit card and use them for different purposes, I can see mobile users having more than one mobile wallet to use in different situations.
Posted by John Heaney, 12/07/2011 9:20am (10 months ago)
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