Digital Wallets: A Functional, Taxonomy-Driven Evaluation

By David Lemon.
Updated Apr 8, 2021

BOSTON (PRWEB) April 08, 2021 - Mercator Advisory Group has been measuring consumer adoption of digital wallets for a decade. The questionnaires become more complex every year as new features and functions are added and new suppliers appear. Today there are wallets to support global card networks, national card networks, multiple merchants and single merchants. Some have added loyalty programs, others support ticketing and still others are adding support for car keys. There are also e-commerce buttons that act as wallets and merchant wallets that are adding financial services. Mercator Advisory Groups latest research report, A Functional Taxonomy of Digital Wallets: Todays Version, Tomorrows Direction, delivers a review of all the major digital wallets using a single consistent taxonomy to enable a more effective competitive evaluation of the feature/functions each wallet supports. This in turn suggests the key development and market direction being pursued by each wallet supplier.

It is interesting to witness the expansion of wallets into new markets, from authentication to access control. Yet when one takes a step back, one doesnt perceive these solutions staying focused on the payments market. They need to offer more benefits to win over banks, merchants and consumers, comments Tim Sloane, Director, Emerging Technologies Advisory Service at Mercator Advisory Group and the author of the report.

Highlights of the report include:

This research report has 20 pages and 13 exhibits.

Companies and other organizations mentioned in this report include: Apple, Google, Samsung, PayPal, Starbucks, Cumberland Frams, Zipline, Amazon, EMVCo, McDonalds, Dunkin Donuts, Target, Walmart, Burger King, Subway, Domino's, Chipotle, CVS, Pizza Hut, Panera Bread, Cheesecake Factory, Gulf, Exxon, Venmo, BMW, FIDO, Uber, Lyft, Airbnb, OpenTable.

Members of Mercator Advisory Groups Emerging Technologies Advisory Service have access to this report. Members of the Emerging Technologies service also have access to the services upcoming research for the year ahead, presentations, analyst access, and other membership benefits.

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About Mercator Advisory Group Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.