Understanding Digital Wallet Options For Your Business

Digital wallets are poised to transform the way consumers shop and pay retailers, restaurants, and service providers. Early wallets are enabling the convergence of offers, coupons, loyalty, and payments. Successful wallets will enhance the consumer's commerce experience by delivering more value, greater convenience, and a contextually relevant, compelling experience. We've now entered a phase in the evolution of wallets that will attract new entrants from nearly every sector of commerce — from technology companies to financial institutions (FIs) to merchants. Although a few merchants have made their initial foray into the digital wallet space, others are grappling with what to do and most remain on the sidelines altogether. This report provides a framework for eBusiness professionals in merchant organizations to understand the emerging digital wallet marketplace, some of the options available, and the potential opportunities for merchants who choose to adopt them.