A move by Fidelity National Information Systems Inc., or FIS, to offer mobile-wallet technology to banks shakes up a mobile-payments market that's already includes a volatile mix of heavy hitters in the telecommunication, bank and Web spaces, bringing more complexity to a market that has yet to coalesce around a dominant delivery model.

"There are a lot of providers out there, … disrupters like Square and firms like PayPal, so there are still a lot of variables," says Stessa Cohen, a research director at Gartner. "FIS will have a lot of competition, and the model that emerges will depend on what consumers are comfortable doing when using their phone to pay."

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