Lack of interest in wallet platforms is impacting mobile payments

Consumers have little interest in mobile wallets, seeing them as relatively useless

In the U.S., consumers are finding the concept of mobile wallets difficult to understand. For several years, people have been using their smartphones and tablets for a variety of activities, including hailing cabs, purchasing products online, and reviewing products and services that they are interested in. For the most part, mobile wallets are never used for such activity, which has left many people wondering why these platforms are being so heavily promoted by companies participating in the mobile commerce space.

Wallets may not offer consumers the services that they are interested in using on a daily basis

Mobile wallets are quite straightforward in their purpose. These platforms are meant to serve as digital counterparts to physical wallets. As such, they store the financial information of their users as well as a wide variety of other digital content. All of this information can be easily accessed by users of mobile devices, but this convenience has done little to wind over the hearts of consumers. Those finding mobile wallets unnecessary are not able to see what these platforms offer than traditional wallets do not.

Falling support for wallet platforms may have a negative impact on mobile commerce

The relative malaise that people seem to have with mobile wallets has had an impact on mobile payments. Many companies specializing in mobile commerce have placed their hopes on mobile wallets. If these platforms are not being used, consumers are not likely to be making mobile payments. There are mobile commerce services that are not associated with wallet platforms, but many of the largest companies working in this sector are pushing for consumers to embrace the concept of mobile wallets.

Merchants are showing relatively low interest in mobile wallet platforms

Consumers are not the only ones that are showing disinterest in mobile wallets, of course. Merchants also have yet to be won over by the capabilities of wallet platforms. Many of these merchants are somewhat interested in mobile payments, but are not willing to support wallet platforms in order to accommodate mobile consumers.