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US Payments Forum Report Offers Digital Wallet Deployment Guidance For Merchants And Issuers

PRINCETON JUNCTION, NJ -- Innovations in mobile and digital wallets over recent years have resulted in a proliferation of wallet models and solutions, all intended to improve consumer convenience, leverage data, lessen friction or lower the cost of payments. Merchants and issuers looking to understand the key factors and considerations for developing a mobile or digital wallet strategy can find guidance in a new U.S. Payments Forum white paper , "Mobile and Digital Wallets: U.S. Landscape and Strategic C...

February 22, 2018

PRINCETON JUNCTION, NJ -- Innovations in mobile and digital wallets over recent years have resulted in a proliferation of wallet models and solutions, all intended to improve consumer convenience, leverage data, lessen friction or lower the cost of payments.

Merchants and issuers looking to understand the key factors and considerations for developing a mobile or digital wallet strategy can find guidance in a new U.S. Payments Forum white paper, "Mobile and Digital Wallets: U.S. Landscape and Strategic Considerations for Merchants and Financial Institutions."

Created by the U.S. Payments Forum Mobile and Contactless Payments Working Committee, the white paper provides an overview of different wallet models, technologies and security approaches and lessons learned from wallet launches and experiments.  It also explores key considerations for merchants and issuers in developing a mobile wallet strategy, including factors such as fit with an overall business strategy, desired customer experience, costs compared with expected benefits, partnerships and technology.

This white paper is part of the U.S. Payments Forum's ongoing effort to explore opportunities and challenges associated with mobile and contactless payments in the U.S. market, and to provide guidance for stakeholders regarding the rapidly changing mobile and digital wallet landscape.