The Race For Mobile Payments

The fight is on to turn your smartphone
into a wallet. Who
will win?

boxing gloves
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Over the next 7 to 10 years, major tech, retail, and financial players will duke it out to make the "mobile wallet" a reality, allowing people to pay for everything with their smartphones. Whoever gets there best—not necessarily first, and almost certainly with partnerships—could theoretically control the multitrillion-dollar U.S. payments industry. Here's the likeliest battle trajectory, based on interviews with leading industry analysts.

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  • Jurgen

    Erm, I see no concern whatsoever in the graph that mobile payments may take different routes. Over here in Europe, mail checks never were big, we already for many decades had the luxury of a very easy, swift and relatively safe system of wires/transfers. First on paper, then via a web page (yes, with an elaborate crypto token), and now already via bank-supplied apps. How do payments via NFC go anyway ..? (Directly charging the phone bill, or using the phone as ID only ..?)
    So, will it be NFC, or app or web page based transfer entry ...? Still much too early to tell. But for once, loose the provincial focus a little, and see that the US is only a small part of world economy, and not necessarily (!) the most innovative at that.

  • Paula Londe

    If they can figure out how to manage loyalty cards, too it would be awesome! No more carrying them all around or giving out your phone number for everyone to hear!

  • Kim Fraiser

    My business always needs to make payments on the go. I started
    using this mobile payments app that is great and its available on IOS,
    blackberry and android. It’s called CSI globalVCard and it allows me to
    generate one time use MasterCard numbers to make payments. It’s easy to use and
    really secure!

  • Jason Madhosingh

    Madhosingh · Director, Online and Mobile, Enterprise Growth at American Express

    Hello-- I look after the developer product and relations for
    Serve. I can be reached at if any developers are interested in
    joining our pilot and closed betas.Best,Jason MadhosinghServe
    Developer Products, American Express.