Tuesday, August 2, 2016

Mobile Wallets to Consolidate

Right now, with the failed launch of CurrentC by MCX, retailers are rushing to roll out their own mobile wallet within their store brand app.  Baskin Robbins just launched, as a part of Dunkin Brands.  Walmart has Walmart Pay in its app, etc.

Eventually a more consolidated approach will take hold.  I have no doubt of this, though I believe some retailers such as Starbucks will be able to hold on to their direct relationship with their customers.

Other experts see the same thing coming.  Here is a snippet :

Mobile wallets are slowly gaining adoption, but retailers’ offerings are currently the winners because they can be easily integrated with loyalty programs, providing an incentive to use them.

Many experts believe that mobile wallets will continue to grow, and by the end of the decade, be universally adopted. Retailers such as Dunkin’ Donuts and Starbucks are leading the charge in terms of brand-led mobile wallets and are seeing significant adoption rates while platform-led services such as Apple Pay and Android Pay mobile wallets are lacking in comparison, but will likely see more users in the coming years.

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