Another year, another round of wallet wars. In addition to a few new entries in the wallet space, we introduce the Visa wallet card and unpack the latest data on adoption, engagement and trends. Could this be the year that wallets pay off?
Podcast: The Future of Mobile Wallets
What are the opportunities for banks and credit unions to compete? Listen in as host Josh Gilbert, Accenture’s managing director, talks up new technologies in the mobile wallet space, consumer adoption trends, and opportunities for financial institutions to get in the wallet game.
Android Pay and Google Wallet Are Becoming One Service
Say goodbye to Android Pay and Google Wallet. Google’s newest mobile wallet is Google Pay, which integrates Android Pay with Google Wallet. “The service allows people to use payment information saved in their Google account on any Google product, including Chrome for web purchases, in-app purchases on Android, renewing YouTube subscriptions and even for NFC payments on brick and mortar stores.”
Motivating Mobile in 2018
“Another year, another chance for mobile wallet players to convince consumers to give up their plastic cards and utilize the phone as a payments form factor,” this story begins. Though PYMNTS continues to be skeptical about mobile wallets achieving critical mass in the immediate future, they have data to share and plenty of insights into this evolving market.
Visa to Issue Dynamics Wallet Card
It’s a wallet! It’s a card! It’s Visa’s newest foray into the mobile wallet space. Visa’s wallet card will be the same size and shape as a regular credit card but will incorporate new features, including the capacity to access multiple cards.
LG Pay Set to Debut in U.S.
It just wouldn’t be a new year without a new mobile wallet entry to announce. This year’s model: Electronics company LG will launch its mobile wallet option, currently available in South Korea only. LP Pay uses wireless magnetic communication to enable users to make mobile payments at the point of sale even without contactless functionality.