Smartphones get new duty — as wallets
"Picture walking up to the Dillard’s counter, two shirts in one hand, smartphone in the other. Phillip Vullo ATT Mobility Chief Executive Officer Ralph de la Vega said, 'We’re getting into a completely new line of business that we’re very excited about.' There’s no need to reach for your wallet, because all of the credit card information has been stored in your phone. One tap of the phone against a small mobile reader next to the cash register, and you’re out the door. Welcome to the new, more intelligent world of smartphones that can double as wallets."
If PayPal Offered a Mobile Wallet, 8 in 10 Consumers Would Use It
"Consumers who are interested in mobile wallets* would consider using alternative players to their primary bank for mobile wallets and for banking. These consumers also expressed strong interest in using a wide variety of services in their mobile wallet, such as search & shop, loyalty programs and real-time incentives. These are two major findings from a mobile wallet study conducted by Carlisle & Gallagher Consulting Group (CG, www.carlisleandgallagher.com ), a management and technology consulting firm serving the financial services industry."
Big Banks Fear Losing Consumers to Mobile Wallets
"There’s more bad news for the beleaguered banking industry, and it has nothing to do with regulatory scrutiny or shareholder displeasure: Consumers who are interested in mobile wallets would consider using alternative players to their primary bank for both mobile wallets and banking. Mobile wallets are smartphones or tablet apps that store a consumer’s payment details on his or her devices or online to fund digital and in-store purchases."