Single-Merchant Wallets: Mobile Payments for the Immediate Future
New research from Mercator Advisory Service profiles multiple solutions and forecasts growth for single-merchant wallets
Boston, MA - December 19, 2012 Every
day, more is being said about the potential value in mobile payments.
Yet the struggles facing major mobile payment solution providers such as
Google and Isis are well documented. How can a product with so much
potential be so difficult to launch?
major solution providers are attempting to develop a mobile payment
system that can theoretically be available to all consumers, accepted by
all merchants, and utilize all major payment networks -an undertaking
that will take years to accomplish. Meanwhile, a number of more focused
solutions are poised to take advantage of the value of mobile payments
today. Rather than aim for universal acceptance, these solutions focus
on being accepted by only a single merchant, drastically simplifying the
process of implementation.
Mercator Advisory Group's new report, Single-Merchant Wallets: Mobile Payments for the Immediate Future,
compares single-merchant wallets with universal ones, classifies the
two major types of single-merchant mobile wallets, and describes which
merchants are in the best position to implement the two types. The
report also profiles multiple solutions currently available for
consumers and forecasts the growth pattern for single-merchant wallets,
with a particular focus on the effect of universal mobile wallet
universal mobile wallets are expected to become far more common
eventually, the current opportunities for mobile payments lie almost
entirely with single-merchant wallets," says Dave Kaminsky, analyst in Mercator Advisory Group's Emerging Technologies Service
and author of the report. "For a number of reasons, universal mobile
wallets will not be practical for the next five or six years. This
window leaves plenty of time for SMW providers to demonstrate the value
of their products to both merchants and consumers. If they can develop
enough loyalty in those groups, it is feasible that they will survive
the impact of the bigger wallets and become a factor in mobile payments
for the long term."
Highlights of the report include:
Explanation of why universal mobile wallets take far longer to gain
traction than single-merchant mobile wallets, and how single-merchant
wallets can benefit merchants both before and after universal wallets
Classification of the two types of single-merchant mobile wallets and
comparison of the merchants best suited to implement each type
Profiles of five single-merchant mobile wallet solutions on the market,
including historical details, usage statistics, and information on
design and infrastructure
- Five-year forecast of total annual transaction volume for single-merchant mobile wallets employed by U.S. merchants
One of the five exhibits in this report:
This report is 21 pages long with five exhibits.
Companies mentioned in the report include:
Bank of America, Citi, CorFire, Dinerware, Dunkin Donuts, Facebook,
Firethorn Mobile, First Data, Google, Isis, LevelUp, mFoundry, MICROS,
PNC, POSitouch, Qualcomm, Revel Systems, SK C&C, Sprint, Square,
Starbucks, Virgin Mobile.
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.
For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send E-mail to email@example.com.
For free industry news, opinions, research, company information and more visit us at www.PaymentsJournal.com.
Follow us on Twitter @ http://twitter.com/MercatorAdvisor.
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.