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US Payments Forum Releases Mobile and Digital Wallet Deployment Considerations Report for Merchants and Issuers

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  • US Payments Forum Releases Mobile and Digital Wallet Deployment Considerations Report for Merchants and Issuers
US Payments Forum Releases Mobile and Digital Wallet Deployment Considerations Report for Merchants and Issuers

Princeton Junction, N.J., February 20, 2018 – Innovations in mobile and digital wallets over recent years have resulted in a proliferation of wallet models and solutions, all intended to improve consumer convenience, leverage data, lessen friction, or lower the cost of payments. Merchants and issuers looking to understand the key factors and considerations for developing a mobile or digital wallet strategy can find guidance in a new U.S. Payments Forum resource released today.

The white paper, “Mobile and Digital Wallets: U.S. Landscape and Strategic Considerations for Merchants and Financial Institutions,” can be downloaded at http://www.uspaymentsforum.org/mobile-and-digital-wallets-u-s-landscape-and-strategic-considerations-for-merchants-and-financial-institutions/.

“For merchants and issuers, there are certain factors to consider when deciding if mobile and digital wallets fit into their business strategy, such as how it will impact the customer experience and what the value will be to their business,” said Randy Vanderhoof, director of the U.S. Payments Forum. “This paper analyzes market trends and innovations in mobile and digital wallets, allowing for merchants and issuers to make informed decisions that will help to drive adoption of new payment technologies that ultimately improve the overall customer experience.”

Created by the U.S. Payments Forum Mobile and Contactless Payments Working Committee, the white paper provides:

  • An overview of different wallet models, technologies and security approaches
  • Lessons learned from wallet launches and experiments
  • Key considerations for merchants and issuers in developing a mobile wallet strategy, including factors such as fit with an overall business strategy, desired customer experience, costs compared with expected benefits, partnerships and technology
  • A discussion of several standards bodies and their work relating to mobile payment solutions

This white paper is part of the U.S. Payments Forum’s ongoing effort to explore opportunities and challenges associated with mobile and contactless payments in the U.S. market, and to provide guidance for stakeholders regarding the rapidly changing mobile and digital wallet landscape.

The Mobile and Contactless Payments Working Committee explores implementation opportunities and challenges, identifies possible approaches, and develops best practices for mobile and contactless payments solutions. Additional information can be found at http://www.uspaymentsforum.org/working-committees-sigs/mobile-and-contactless-payments-working-committee/.

About the U.S. Payments Forum

The U.S. Payments Forum is a cross-industry body focused on supporting the introduction and implementation of new and emerging technologies that protect the security of, and enhance opportunities for payment transactions within the U.S. The Forum is the only non-profit organization whose membership includes the whole payments ecosystem, ensuring that all stakeholders have the opportunity to coordinate, cooperate on, and have a voice in the future of the U.S. payments industry.

Contact:

Adrian Loth
Montner Tech PR
203-226-9290
[email protected]

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About the U.S. Payments Forum

The U.S. Payments Forum is a cross-industry body focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry. The Forum is an affiliated organization of the Secure Technology Alliance, founded in August 2012 as the EMV Migration Forum, and renamed in the U.S. Payments Forum in 2016 to include other new and emerging payments technologies in the United States.

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