Slow adoption, lack of merchant enthusiasm, fragmented offerings
and blocking by competitors have all resulted in stalled growth for mobile
wallets, according to a report by Javelin Strategy & Research.
More mobile wallet players have been competing for less space in 2013, as small and large competitors position themselves in anticipation of coming growth in the area.
More mobile wallet players have been competing for less space in 2013, as small and large competitors position themselves in anticipation of coming growth in the area.
The largest movement has been in digital wallets, with growth in
mobile app and mobile online payments dwarfing that of mobile proximity
payments. Digital wallets are an effective positioning tool for mobile wallets,
opening up the door for frictionless adoption of mobile wallets among current
digital wallet customers. Large content ecosystems, such as those managed by
Amazon, Apple, Facebook and Google, provide a competitive advantage that has
yet to be used to its full potential, according to researchers.
The report analyses the
mobile wallet industry, leading technologies in the field and consumer
sentiment and adoption within the market. It is based on one online survey of
more than 3,000 consumers and executive interviews among major competitors in
the payment and wallet industry.
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