Technology never stands still, and even the most successful mobile wallets in the market need to keep pace with the needs of consumers and merchants. A few are making changes that position them for new markets and platforms in the near future.
Underbanked consumers will have an incentive to initiate mobile payments through PaySwag, an application that will issue rewards for using a smartphone to make a payment and allowing redemption at any time.
Ukraine-based KredoBank has launched a digital wallet that uses host card emulation (HCE) technology to enable contactless mobile payments with Android handsets, and it’s backing the new service with a promotional campaign to win prizes on Facebook.
Google Wallet may have passed the in-store and in-app payments baton to Android Pay late in 2015, but it has simplified its person-to-person payment capabilities by extending its Gmail integration to Android phones.
The technology from MCX's CurrentC wallet, which never formally launched, will get new life with Chase Pay, which debuted in 2016 with Starbucks, Best Buy and commitments from MCX members such as Walmart.