For Marketing Leadership Professionals

Google Wallet Is Not About Mobile Payments – A BT Futures Report

    Why Read This Report

    Google's statement that mobile payments are just getting started is correct. Its announcement on May 26, 2011, was another early salvo in what will be a long and hard-fought battle to change consumers' payment behavior and, as a potential result, the makeup of the payments landscape. Relying on an installed base of phones that is today indistinguishable from zero, a single payment system, a single card issuer, and a modest network of merchants capable of accepting these phone-based payments means that the near-term impact will be negligible. However, Google's interest here isn't in the payments; it's in the data that underlies the complete chain of commerce including consideration, promotion, transaction details, coupons, and receipts. The longer-term impact is potentially much more significant and another sign that consumer product strategists need to anticipate the disruption created by new entrants in the payment value chain.
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