Home Industry News Is this Finally the Year Mobile Wallets Takeoff?

Is this Finally the Year Mobile Wallets Takeoff?

There has been a great deal of speculation and high expectations for the growth of contactless mobile payments since the launch of Google Wallet in 2011, but more than three years later mobile payments at the physical point-of-sale have yet to reach critical mass. With Apple Pay launching in late 2014, the number of NFC enabled mobile devices and payment terminals rapidly increasing and several other factors at play, 2015 may finally be the year mobile in-store payments takeoff in the mainstream.

When Google Wallet first tapped the contactless mobile payment market in 2011 it was segmented and difficult to get all the right players to cooperate, there were only a handful of compatible mobile devices, and only some mobile carriers and card issuers were directly participating. The landscape looks much different today.

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