Why are Apple Pay, Starbucks' app, and Samsung Pay so much more successful than other wallet providers?

BI Intelligence

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

In the US, the in-store mobile wallet space is becoming increasingly crowded. Most customers have an option provided by their smartphone vendor, like Apple, Android, or Samsung Pay. But those are often supplemented by a myriad of options from other players, ranging from tech firms like PayPal, to banks and card issuers, to major retailers and restaurants.

With that proliferation of options, one would expect to see a surge in adoption. But that’s not the case — though Business Insider Intelligence projects that US in-store mobile payments volume will quintuple in the next five years, usage is consistently lagging below expectations, with estimates for 2019 falling far below what we expected just two years ago. 

See the rest of the story at Business Insider

See Also:

• PayPal is hiring for hundreds of jobs amid the coronavirus slowdown. A hiring executive there lays out the exact skills you need to nail an interview.
• Grubhub and JPMorgan have teamed up to let delivery drivers instantly access their earnings, and the bank says cash-outs are surging
• How neobanks can convince SMBs to switch banking providers

from Feedburner https://ift.tt/2ATfe19
via IFTTT