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

mobile payments lumiscapeBI 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:



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

Comments

Post a Comment

Popular posts from this blog

Autonomation

Image
“Jidoka” is a new one to me. TRI (Toyota Research Institute) CEO Gill Pratt described the concept as “Automation with a Human Touch.” The anglicized version of the notion is “Autonomation” — both are modified forms of “ automation,” in their respective languages. The word was originally applied to Toyota’s Production System, highlighting the need for human participation in the process. Quoting from Toyota here: Employing Jidoka principles throughout the production process is a vital element of the Toyota Production System, forcing imperfections to be immediately addressed by self-inspecting workers and thereby reducing the amount of work added to a defective product. Some automated machines can also function in the detection process, allowing human operatives to only be engaged when alerted to a problem. It’s a nice sentiment — a kind of harmony between robots and humans that ultimately plays to their respective strengths. There is, of course, a very real question of how fundamen
Read more

Tesla’s Dojo, a timeline

Elon Musk doesn’t want Tesla to be just an automaker. He wants Tesla to be an AI company, one that’s figured out how to make cars drive themselves.  Crucial to that mission is Dojo, Tesla’s custom-built supercomputer designed to train its Full Self-Driving (FSD) neural networks. FSD isn’t actually fully self-driving; it can perform some […] © 2024 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/9uhRcnY via IFTTT
Read more

Time for moderation?

Flexport CEO Ryan Petersen made it clear that while he was keen on buying Convoy because of the "incredible tech stack" it built, he wasn't buying its strategy. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/oB8wO3Q via IFTTT
Read more