Six months after the release of Apple Pay, how is Apple doing? Early consumer surveys of iPhone users reveal that few users have both enabled a card on the app and gone ahead to make a purchase with it. Worse, few retailers seem to support Near Field Communication, or NFC, payments—just 700,000 locations according to Apple’s latest reckoning. Will lack of avenues to use Apple Pay at the point of sale doom its likelihood of becoming the iPhone user’s payment method of choice? [Read more…]
Mobile wallets are being introduced to the market in a steady stream of configurations from passive containers to dynamic payment products. Companies large and small are vying for a piece of a future market. Along the way, these emerging payment forms are reshaping traditional business models and impacting traditional acceptance brands.
In a new research report, Mobile Wallets: The Business and the Brand, Mercator Advisory Group applies a business model canvas approach to analyze examples of developing mobile wallet types based on first-person interviews with the leaders of these companies. In addition, this report breaks apart the impact of branding based on different mobile wallet structures to discuss the effect on traditional payment brands as well as the challenges new acceptance marks face in the market. [Read more…]