Mobile Wallets: The U.S. Landscape
New Mercator Advisory Group research identifies U.S. mobile wallets by category and technology
Boston, MA - March 28, 2013. The
physical wallet might someday go the way of the checkbook, used by few
and no longer a necessity. Growing consumer use of smartphones is
creating a market for mobile wallets capable of serving many of the same
purposes physical wallets served for centuries but now are able to take
advantage of a plethora of new functions made possible in an
increasingly digital marketplace.
financial institutions, mobile wallets represent an opportunity to add
more utility to their mobile banking apps, and the bankcard networks are
making it easier for banks and credit unions to do so while also
enabling them to maintain brand recognition.
picture is beginning to emerge that suggests how mobile wallets will
take hold. Instead of taking a $10 bill out of a wallet for a purchase
at the point of sale, a consumer today might simply use a smartphone and
tap a terminal or scan a bar code to achieve the same result. And
rather than the clerk handing the customer coupons, perhaps on the back
of the receipt, the phone might automatically receive both pieces of
information from the terminal (to store for later use or to help manage
the household budget).
Mercator Advisory Group's new report, Mobile Wallets: The U.S. Landscape,
reviews U.S. mobile payment trends, analyzes the wallets by function
and sorts them into a taxonomy of the major players, their wallets and
the most common uses.
mobile wallet market is a new frontier, especially in the payments
industry, which has seen little change in technology or functionality
for decades," says Jeffrey Green, director of Mercator Advisory Group's Emerging Technologies Advisory Service and author of the report.
"This represents both a threat and an opportunity for players that have
been in payments for some time. And knowing who these wallet vendors
are and what they're offering is becoming important in determining how
to respond to the marketplace changes."
Highlights of the report include:
- Analysis of the U.S. mobile-wallet market and categorization of products into three basic wallet categories
of the common point-of-sale technologies, how merchants access wallet
credentials and the way wallet transactions are settled
of wallets using different technologies to support payments at the
point of sale, online and for person-to-person funds transfers
- Comparison of storage and management wallets as well as mobile banking and payments platforms Discussion of mobile banking platforms and the role they will play in mobile payments.
One of the 13 exhibits in this report:
This report is 27 pages long with 13 exhibits.
Companies mentioned in the report include: ACI
Worldwide, Amazon Inc., American Express Co., Apple Inc., Apriva LLC,
AT&T, Atos Worldline, Attido Mobile Ltd., ATX Innovations, Bango
Inc., Barclaycard, BarTab Inc., Belly Inc., Best Buy/BBY Solutions Inc.,
Blackhawk Network, Boku Inc., Braintree Payment Solutions LLC, Burger
King Corp., CashStar Inc., CellFire Inc., Certify LLC, Clutch Holdings
LLC, Coop Financial Services, Corefire/SK C&C USA Inc., Cumberland
Farms, DeviceFidelity Inc., Discover Financial Services, Dunkin Donuts,
Dwolla Inc., eBay Inc., Fandango, Fifth Third Bancorp, Firethorn Mobile
Inc., Fiserv Inc., Fortumo Ltd., FreedomPay, Giftango Corp., Google
Inc., Green Dot Corp., GrubHub Inc., Hailo Network Ltd., iCache Inc.,
Intuit Inc., Ingenico, Isis/JVL Ventures LLC, Kinetic Farm Inc., Lake
Trust Credit Union, Lemon Inc., LevelUp/SCVNGER, Live Nation Worldwide
Inc., MasterCard Inc., mFino Inc., mFoundry/FIS, MCX, Microsoft Corp.,
Monitise PLC, mopay Inc./MindMatics AG, Mozido Inc., mShift Inc.,
National Payment Card Association, NCR Corp., Oberthur Technologies,
Parkmobile USA Inc., Pango Shyyny USA LLC, Paperlinks Inc.,
Payair US LLC, PayByPhone Inc., Paycloud Ltd., Paydiant Inc.,
Paydragon, PayOne, PayPal Inc., PreCash Inc., Proxama Ltd., PXT
Payments, QuickPay Corp., Research In Motion Ltd., RideCell Inc.,
RideCharge Inc., SafetyPay Inc., Salt Technology Inc., Samsung, Sears
Holdings Management Corp., Shazam Inc., ShopKick Inc., ShopSavvy Inc.,
Sionic Mobile, Spindle Inc., Sprint, Square Inc., Starbucks Inc., Target
Corp., Text2Pay Inc., TMG Financial Services, T-Mobile, Tyfone Inc.,
Verizon, Uber Technologies Inc., VeriFone Systems Inc. and Visa Inc.
Members of Mercator Advisory Group's Emerging Technology Advisory Service
have access to this report as well as the upcoming research for the
year ahead, presentations, analyst access and other membership benefits.
Please visit us online at www.mercatoradvisorygroup.com.
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About Mercator Advisory Group:
Advisory Group is the leading, independent research and advisory
services firm exclusively focused on the payments and banking
industries. We deliver pragmatic and timely research and advice designed
to help our clients uncover the most lucrative opportunities to
maximize revenue growth and contain costs. Our clients range from the
world's largest payment issuers, acquirers, processors, merchants and
associations to leading technology providers and investors. Mercator
Advisory Group is also the publisher of the online payments and banking
news and information portal PaymentsJournal.com.