Consumers and companies like Apple are asking - Why have we not reached the point yet where people are using their phones rather than their wallets?
- There are quite a number of digital wallets out there, many of them being well resourced and well connected. But none of these digital wallets have shown large scale consumer adoption.
- Why do we witness a difference in opinions while implementing the digital wallet? Opinions could be related to the agreement on technology, on partners and on the approaches to implementation as well.
- Should we expect some wallets from major non-financial brands which can truly disrupt the market and substantially change the consumer adoption?
At Let' s Talk Payments, we have written a series of article on Mobile Wallets and issues (the series consists of three articles: Part 1, Part 2, Part 3)
According to a survey by TSYS, 1 in 5 smartphone users have a mobile wallet installed on their phone but usage reflects only 1.2 percent of the total transactions made by U.S. consumers in 2012. What are the issues? What can be done? All this and more will be discussed at The Money Event, on Sep 9th, Sep 10th and Sep 11th. You can see the entire agenda/ program here
Don’t miss listening to this amazing conversation that will take place at the Money Event. This session is called WW1: The Wallet Wars: 90 wallets and $3B in investments later…still waiting for Apple? The amazing group of speakers for the session are:
- Jim Van Dyke, CEO & Co-Founder, Javelin Research
- Chris Gardner, Co-Founder, Paydiant
- Will Graylin, CEO, Loop
- Marc Winitz, SVP-Marketing, Monitise
- Jeff Miles, VP-Mobile Tansactions, NXP