What's Missing? Creating a Comprehensive Mobile Wallet Solution
The paper highlights critical factors that will determine the mobile wallet's future adoption in the U.S. market and its acceptance among merchants, as well as explores how a more robust wallet solution can solve consumers' needs. The report is based on primary research TSYS conducted of 500 consumers in January 2014 to address some key issues that will affect the evolution of the mobile wallet and to reveal consumers' wants and needs from a mobile wallet solution.
The study found that consumers desire a comprehensive mobile wallet that provides not just payment capabilities, but also the ability to replace the physical wallet, such as storing their driver's license information and other personal identification. Additionally, the study revealed that the key driver to making the wallet truly functional for consumers would be the integration of their identification.
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