Disrupting Finance: Mobile Payment Systems

The mobile mind shift — the expectation by consumers that they can get what they want in their immediate context and moment of need — has inspired a generation of disrupters that use mobile technologies to make payments faster and easier for consumers and merchants alike. By enabling customers to make payments easily using their smartphones, disruptors like Apple Pay, Dwolla, LevelUp, LoopPay, PayPal, and Venmo threaten to come between banks and their consumer and merchant customers — and the valuable data insights garnered through their spending habits. This report will help eBusiness professionals at financial institutions understand the mobile payments landscape, who the main players are, what their disruptive potential is, and how eBusiness executives should react.