Understanding the Mobile Wallet: 3 Things Retailers Must Know

The challenge is enabling a broad and diverse set of businesses to embrace the market without unified technologies and processes. As new mobile payment networks emerge this year, here are three key things brands and retailers must understand to be successful:

1. The mobile wallet is closer to reality. Consumers want convenient, secure and frictionless payment methods. With a mobile wallet, they can leave their cash and credit cards at home and make smaller purchases quickly and conveniently. In theory, a mobile wallet acts like an electronic version of a wallet, replacing everything from credit cards and loyalty cards to coupons and cash.