December 27, 2012

Will Mobile Wallets Replace Their Traditional Counterparts?

Customers need to be incentivized if they are to embrace mobile wallets, especially in the U.S. Meanwhile, banks will play a major role in how -- and if -- mobile wallets evolve further.

By Bryan Yurcan

BS&T asked this question early in 2012. By the end of the year, with an explosion in initiatives backed by banks, merchants and an array of non-traditional financial services players, the answer seems to be, “Maybe,” but the competition to lead the mobile wallets pack was intense.