The Future of Mobile Payments

Cash money out – phones in? As consumers remain tethered to their phones, the growth of mobile wallets has exploded, multiplying faster than bunnies in springtime. But just like any overcrowded forest, only the strong survive. With so many options – including the opportunity to create their own types of mobile payments – businesses are struggling to figure out what’s a passing fad and what’s the real deal.

When it comes to the future of mobile payments, there are several factors in play – the actual payment technologies (i.e., mobile wallets and payment platforms); disruption from innovations like AI/ML and blockchain; and of course, the determining factor in all of the above – consumer adoption and preferences. Let’s take a look the major factors at play and how consumers will drive the ...