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May 20, 2021, Dublin (GLOBE NEWSWIRE)-The “The functional classification of digital wallets: today’s version, tomorrow’s direction” Report has been added to ResearchAndMarkets.com provide.
Functional classification of digital wallets: today’s version, tomorrow’s direction, Using a consistent classification method to review all major digital wallets, so that you can more effectively evaluate the functions supported by each wallet. This in turn implies the key development and market direction pursued by each wallet supplier.
Today, there are wallets that support global card networks, national card networks, multiple merchants and a single merchant. Some added loyalty programs, others added ticket support, and some added support for car keys. There are also e-commerce buttons that act as wallets and merchant wallets that add financial services.
“It is interesting to witness the expansion of the new market for wallets from authentication to access control. However, when people take a step back, people will not think that these solutions have been focused on the payment market. They need to provide more benefits to win Competition. Exceeding banks, merchants and consumers”, comment Tim Sloane.
Highlights of the report include:
- The digital wallets available today are very different, from universal wallets (Apple Pay, Google Pay, Samsung Pay) to online payment buttons (Amazon, PayPal, and soon Secure Remote Commerce (SRC) solutions), all the way to retailer digitization. wallet.
- Each digital wallet has its own set of features, sometimes used to help target the international market, sometimes used to address new domestic markets (such as car replacement keys), and sometimes benefit existing users, whether they are consumers, financial institutions or businessman.
- It may be that due to the difficulty of focusing on specific markets rather than chasing new markets, Universal Wallet is unable to provide compelling solutions for its three main market participants (banks, consumers and merchants).
- Universal Digital Wallet has been working hard to provide enough features to transfer the ability of merchants to develop their own digital wallets. By adding banking functions, introducing their own card programs and P2P functions, universal digital wallet providers have caused great distrust in banks.
- Universal digital wallets will also not fascinate merchants because they lack the ability to differentiate their merchant loyalty programs.
- Traditional market forces may begin to integrate the functions supported by the popular universal wallets on the market today. All the vendors related to the vendors commonly referred to as universal wallets are adding new features.
Key topics covered:
executive Summary
Introduction
- Narrow consumer POV on the wallet
Digital wallet function classification
Features of leading digital wallets
- Apple Wallet
- Google Pay
- Samsung Pay
- Paypal
- Starbucks
- Cumberland Farm/Ropeway
- Amazon Pay
Strategic observation
- Essentials of today’s digital wallets
- Future strategic issues
reference
chart
- In 2020, more than a quarter of smartphone users will use universal wallets in stores
- Online use of universal wallets has begun to accelerate
- Single retailer wallets collectively lead to market penetration.
- More than half of smartphone owners use wallets for physical store or online purchases
- Digital wallet function classification
- Emerging wallet functions
- Wallet function: Apple Wallet
- Wallet function: Google Pay
- Wallet function: Samsung Pay
- Wallet function: PayPal digital wallet
- Wallet function: Starbucks
- Wallet function: Cumberland Farms / Zipline
- Wallet function: Amazon Pay
Companies mentioned
- apple
- Samsung
- Paypal
- Starbucks
- Cumberland Frame
- Zipline
- Amazon
- Electric Vehicle Company
- McDonald’s
- Dunkin’ Donuts
- the goal
- Walmart
- Burger King
- subway
- Dominoes
- chili sauce
- CVS
- Pizza Hut
- Panera Bread
- Cheesecake Factory
- bay
- Exxon Mobil
- Venmo
- BMW
- FIDO
- Uber
- elevator
- Airbnb
- Open table
For more information about this report, please visit https://www.researchandmarkets.com/r/f1ci5j
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
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