PLUS Events

08.05.2013 – 09.05.2013   New York, USA

Wallet Wars

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Organizer MforMobile,   www.mformobile.com
Never has there been so much to play for in the payments space, a revolution is just round the corner. With Square, Apple, Google and Windows becoming major players in Wallet space MNOs, Banks and Payment Institutions need to innovate fast to make sure they’re not left behind...The cell phone has already reinvented the gaming market, re-worked the music industry, and destroyed both the camera and video markets. Now it is coming for our wallets.

With the US smartphone market continuing its explosive growth, statistics portal Statista is predicting mobile wallet users will soar from last year’s 2.7 million to 48 million in 2016. Which means the War of the Wallets will be played out across an economic battlefield worth many billions of dollars.

Research and advisory firm Aite Group predicts the volume of all types of mobile payments will top $200 billion by 2015, up from $16 billion in 2010.

Of course, it’s never that simple, and the road to widespread implementation is paved with serious hurdles.

Obstacles that remain to be overcome include concerns around electronic infrastructure, security, cyber crime and market fragmentation. Add to this privacy, trust, and persuading consumers to change the payment habits of a lifetime and you’ll see there’s a real minefield out there. And what about customer fear that their phone runs out of battery could also leave them moneyless?

But make no mistake. Those with first mover advantage will profit handsomely from the payments revolution. And that is where Wallet Wars comes in.

Examining the future of Mobile Wallet Profitability from every angle: From integrated solutions to turning your data into significant revenue

Just like today’s physical wallet, the mobile wallet will contain our most important credentials – including identity, affiliation, payment, and personal. It will also be a repository for vouchers, offers, discounts and rewards, and include a record of our purchases and our preferences.

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