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Boston, MA (PRWEB) December 30, 2012
Every day, more is being said about the potential value in mobile payments. Yet the struggles facing major mobile payment solution providers such as Google and Isis are well documented. How can a product with so much potential be so difficult to launch?
These major solution providers are attempting to develop a mobile payment system that can theoretically be available to all consumers, accepted by all merchants, and utilize all major payment networks -an undertaking that will take years to accomplish. Meanwhile, a number of more focused solutions are poised to take advantage of the value of mobile payments today. Rather than aim for universal acceptance, these solutions focus on being accepted by only a single merchant, drastically simplifying the process of implementation.
Mercator Advisory Group's new report, Single-Merchant Wallets: Mobile Payments for the Immediate Future, compares single-merchant wallets with universal ones, classifies the two major types of single-merchant mobile wallets, and describes which merchants are in the best position to implement the two types. The report also profiles multiple solutions currently available for consumers and forecasts the growth pattern for single-merchant wallets, with a particular focus on the effect of universal mobile wallet proliferation.