Slideshow 6 Anti-Mobile Wallet Apps

  • September 02 2016, 12:17am EDT
7 Images Total

The mobile wallet is transforming from a standalone app into just a feature of a bigger commerce system. Here are a few companies that have done away with the wallet concept.

CVS Pay is not an app but a feature in CVS's evolving mobile commerce strategy. The "Pay" aspect is more about streamlining the information consumers provide to the pharmacist than it is about moving money.

Content Continues Below

Walmart Pay was never meant to be front-and-center. The retailer's 20 million mobile customers are already using its app for other purposes, such as comparison shopping.

Starbucks' mobile payment system began as a standalone Starbucks Card app, but the retailer quickly realized that it was best to absorb that functionality into the main Starbucks app. In doing so, it more closely tied mobile payment to its loyalty and customer service features.

Uber is legendary for making the payment almost invisible to the rider. It has served as a model for banks and other payment companies to follow.

Content Continues Below

Chase Pay will have its own app, but its success won't hinge on the app's use. Chase Pay is meant to build on the company's development of its closed-loop ChaseNet system, even if that means the payment function is accessed from a merchant's app.

Venmo recently extended its reach to in-app payments, but unlike its rivals, the PayPal unit didn't hitch its plans to other retail services. Venmo built its audience on a P-to-P service that looks like a social media app.