The Federal Reserve Bank of Boston[1] has released a report based on the recent Mobile Payments Industry Workgroup (MPIW) meeting to discuss (1) different wallet platforms; (2) how card networks and other payment service providers manage risks associated with converging digital and mobile channels; and (3) merchant strategies around building a mobile payment and shopping experience. [Read more…]
A new report entitled Mobile Wallets: The U.S. Landscape by Mercator Advisory Group identifies U.S. mobile wallets by category and technology.
The physical wallet might someday go the way of the checkbook, used by few and no longer a necessity. Growing consumer use of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for centuries but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. [Read more…]
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