Trends Report

Disrupting Finance: Digital Wallets

Digital Wallets Compete For Market Share, But Consumer Adoption Will Be Slower Than You Think

April 7th, 2016
With contributors:
Aurelie L'Hostis , Sucharita Kodali , Benjamin Ensor , Brendan Miller , Alex Causey , Diane Lynch

Summary

Where, with whom, and how much customers spend is a treasure trove of profitable data currently held by banks and a handful of card networks worldwide. The past few years have seen the emergence of increasingly capable digital wallets that integrate payments, offers, loyalty programs, enhanced product information, and identity management. Delivering contextually relevant services to customers' fingertips, digital wallets will change how customers shop. Successful digital wallet operators threaten to come between banks and their consumer and merchant customers. eBusiness and channel strategy professionals should read this report to learn who the main global digital wallet players are, assess the disruptive potential of digital wallets, think through their options, and understand how to outsmart disruptive entrants.

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