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Mobile, global, rewarding pects digital payment schemes to become more platform
agnostic, like Starbucks and Walmart apps that work on
Advanced technology platforms make it easier than ever multiple operating systems. She envisions mobile wallets
for consumers around the world to pay for products and in the future that operate on a range of devices and sup-
services with their favorite payment methods, McClure port numerous payment methods.
stated. Connecting merchants, consumers and service
providers through a single integration and platform will A 2019 white paper by Capco and Bridge2Solutions, titled
enable merchants to offer their customers the widest pos- The New Loyalty Economy: How to Use Digital, Wallet-Linked
sible range of local payment types and secure, reliable ser- Rewards to Re-invent Loyalty Programs and Boost Customer
vices, she added. Retention, presents an optimistic outlook on the future of
loyalty programs, especially for financial institutions and
Citing a Juniper Research study, Hawkins suggested that service providers that have the courage and vision to em-
global adoption of mobile payments will reach 450 mil- brace change.
lion in 2020, when more than half of U.S. consumers will "As momentum builds for digital payments, more con-
likely use some form of mobile wallet. It's critical for com- sumers are reaching for phones instead of physical wal-
panies and solution providers to provide point ubiquity lets at checkout," researchers wrote. "This shift in behav-
and make points a common form of currency for the dig- ior gives financial institutions a fresh opportunity to win
ital-first world, she stated. The technology exists today to the number one position in their mobile wallets – and get
enable multiple financial institutions to accept and aggre- their cards to stay there. This is the pathway for card issu-
gate points. Consumers could pool rewards from three ers to reap the rewards from their investments in loyalty
credit cards for greater buying power. programs, by making their brands more relevant, more
engaging, and omnipresent in the lives of consumers."
Travers has long held that speed, security and interopera-
bility are key considerations for mobile wallet service pro-
viders. The United States has been slower to adopt mobile Dale S. Laszig, senior staff writer at The Green Sheet and managing
wallets than any other region, mainly due to consumer director at DSL Direct LLC, is a payments industry journalist and content
concerns about privacy and security, she noted. As mobile development specialist. She can be reached at dale@dsldirectllc.com
apps and mobile wallets converge and proliferate, she ex- and on Twitter at @DSLdirect.