Money Goes Mobile
For technology players working in mobile finance, winning is not a zero-sum game.
Boston, May 14, 2014 – Ubiquitous smartphones and inefficiencies in legacy payments have propelled the digital wallet into the payments ecosystem—consumers are interested in it, merchants are willing to adopt it, and financial services companies cannot ignore it. This payments environment begs to be disrupted by providers that can solve all mobile wallet concerns, but technology and finance are two dramatically distinct worlds colliding in the mobile space. Can technology and finance understand one another well enough to propel the mobile wallet forward as the payment standard?
This Impact Note examines the evolution of the digital wallet ecosystem as an industry ripe for change brings together the leaders that can deliver robust mobile wallet products. It also breaks down the different types of digital wallet services that exist today, identifies barriers to adoption, and examines the value propositions of the various technologies. It is based on more than 20 Aite Group interviews with executives and product managers within the financial technology industry from February to April 2014.
This 26-page Impact Note contains eight tables. Clients of Aite Group's Retail Banking service can download this report.