Enabling Technologies

Wallet Wars - 90 Wallets and $3 B Investment later are we still waiting for Apple

MEDICIFounder and Chief Strategy & Innovation Officer

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

Amit Goel

MEDICIFounder and Chief Strategy & Innovation Officer

Amit Goel is the Founder & Chief Strategy & Innovation Officer for MEDICI. Amit’s vision is to build a strong FinTech market network that involves financial institutions, banks, startups, investors, analysts & other key stakeholders across the ecosystem – helping each one of them in a meaningful way by removing the asymmetry of information and providing a platform to engage & transact.

Amit is passionate about bringing actionable FinTech-focused insights, innovative products & services for the FinTech ecosystem. Some of his work involves startup scores, bank scores/assessments, predictive viewpoints & other innovations that have helped MEDICI’s customers and the ecosystem. He has been named amongst the Top 100 FinTech thought leaders/influencers in the world & Top 10 in Asia multiple times by reputed agencies, consulting firms as well as financial institutions. Amit has built MEDICI (formerly LTP) as a new-age, tech-enabled advisory/research firm, which is now considered the #1 global research & innovation platform for FinTech in the world.

Amit has been writing pioneering viewpoints on financial technology space that have been ahead of the curve since 2010. His data-driven predictions have helped the customers as well as the ecosystem. His past work experience includes a strong background in strategy & market analysis and advisory to clients (from big business houses to Fortune 500 firms) in payments, commerce, financial services & IT/technology. In the past, Amit had also founded a successful consulting & research practice called GrowthPraxis and has worked at Boston Analytics, Frost & Sullivan, and Daimler Chrysler in strategy & research.