This is a somewhat obvious analysis that before mobile wallets get consumer adoption, they need critical mass of merchant acceptance. What's interesting about this article is it does a decent job of summarizing all the existing mobile wallet players, merchant wallets, and also potential entrants such as Facebook and Amazon.
Good summary of what Google unveiled at Google i/o 2016
- NFC tap-and-pay at merchants and withdraw cash at ATM's
- 2.8 M Wells Fargo customers use Android Pay or Apple Pay today
- Purchases protected by zero liability
- Only on Android phones because iOS does not allow 3rd party access to the secure element
- With Android Pay opening up their API to bank apps, we could see a resurgence of banking branded mobile wallets
Real life pilots of blockchain technology