Thursday, 20 August 2015

Major mobile wallet providers not distinguishing themselves

From Mobile Payments Today –

“We now know that Samsung Pay will launch in the U.S. next month after first debuting in South Korea. We also know that the Merchant Customer Exchange will publicly test CurrentC in Columbus, Ohio, starting in a few weeks.

After those two bits of news broke this past week, I now can say with confidence that the current mobile wallet industry in this country resembles an elementary school play.

When I was in grade school, select classes produced one play per year. I participated in five plays (and had the lead role most of the time, thank you very much).

One thing I’ll always remember about each play is when it came time to do musical numbers, all my classmates flooded a small stage to participate. Everyone got a chance to shine, and no one's voice stood out from the crowd.

The mobile wallet industry right now is that musical number and no provider is really differentiating itself from the others, at least in the eyes of consumers.

Apple Pay leads the pack in media hype, but its success with consumers is difficult to measure at the moment because there are conflicting reports about it.”

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