Here is a short write-up from Market Watch:
http://www.marketwatch.com/story/wal-mart-believes-mobile-payments-are-the-future-for-its-shoppers-2015-03-04
Here is a piece from the Wall Street Journey though you need a subscription to read the entire story:
http://www.wsj.com/articles/wal-mart-expects-customers-to-adopt-mobile-payments-currentc
Here is a snippet from the WSJ piece:
Wal-Mart Stores Inc. believes mobile payments—such as Apple Pay—are the future for its shoppers who now primarily use cash and debit cards.
“I think that’s where the future is going to be going for our customer,” Charles Holley, chief financial officer of the world’s largest retailer, told an investor conference Wednesday. “It’s just not clear where exactly it’s shifting.”
I think he is correct for the broader market as well as for Wal-Mart. The 'unbanked' are extremely reliant on smart phones for everything, increasingly, and Wal-Mart's shopper demographics tend towards the masses.
Similarly, though there are clear distinctions from the above, I just spent 4 days and 3 nights in the Dominican Republic and that is very much a 'mobile first' country. Maybe the person cannot afford or does not have access to a desktop computer or laptop, or a tablet, but they have a low-end Android smart phone at a minimum, likely connected to the 'Orange' network. Mobile banking, mobile payments, mobile everything makes sense in that environment. Forget all of the 'traditional' western infrastructure. Get a smart phone and have it all.
Happy Reading,
J.W. Gant
“I think that’s where the future is going to be going for our customer,” Charles Holley, chief financial officer of the world’s largest retailer, told an investor conference Wednesday. “It’s just not clear where exactly it’s shifting.”
I think he is correct for the broader market as well as for Wal-Mart. The 'unbanked' are extremely reliant on smart phones for everything, increasingly, and Wal-Mart's shopper demographics tend towards the masses.
Similarly, though there are clear distinctions from the above, I just spent 4 days and 3 nights in the Dominican Republic and that is very much a 'mobile first' country. Maybe the person cannot afford or does not have access to a desktop computer or laptop, or a tablet, but they have a low-end Android smart phone at a minimum, likely connected to the 'Orange' network. Mobile banking, mobile payments, mobile everything makes sense in that environment. Forget all of the 'traditional' western infrastructure. Get a smart phone and have it all.
Happy Reading,
J.W. Gant
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