October 18, 2015
The expected takeoff of Wallets has been a hot topic for years in our industry. In the classical retail environment NFC enabled Mobile Wallets will finally deliver on its promise of speed and convenience. In remote commerce we have seen many attempts, high investments and some success stories related to marketplaces like PayPal and AliPay.
The general opinion is that Wallet concept needs value added services to gain adoption. Many see loyalty or vouchers being the killer functionality. We think it might be even closer to the actual purchase process, full integration of product delivery services in the checkout process.
My first experience with Wallets dates from 1998 when we deployed the ultimate secure but user unfriendly Secure Electronic Transaction Wallet for Maestro and MasterCard in the Dutch market. It gained some traction with early internet banking users who used their bank tokens for authentication. Most found the PKI based soft ...