CardFree, a provider of mobile wallets for larger merchants,announcedits Universal API, enabling merchants to accept mobile wallets.
The API — which powers a single point of integration for digital channels including mobile, online and in-store — also allows merchants to offer services like order-ahead and loyalty programs.
Broadening the acceptance network for mobile wallets could positively influence mobile wallet usage.
Mobile wallet adoption has stagnated at roughly 25% of eligible users. And usage among those who have loaded cards into mobile wallets has been low. Apple Pay, for example, only sees about 0.6 transactions per month, demonstrating that the average user isn’t using the wallet on a monthly basis, according to a PULSEsurvey.
One barrier is the fact that customers often aren’t sure where they can use wallets. By broadening acceptance to new merchants, which makes it even simpler for customers to form habits around the wallets, adoption could begin to rise; this could help propel the fivefold increase in volume that BI Intelligence expects between 2016 and 2021.
- Sizes the US in-store mobile payments market and examines growth drivers.
- Analyzes headwinds that have suppressed adoption.
- Identifies three strategic changes providers can make to improve their results.
- Evaluates pockets of success in the market.
- Provides actionable insights that providers can implement to improve results.
Interested in getting the full report? Here are two ways to access it:
- Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND more than 250 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> Learn More Now
- Purchase and download the report from our research store. >> Purchase & Download Now
- Credit Card Industry and Market
- Mobile Payment Technologies
- Mobile Payments Industry
- Mobile Payment Market, Trends and Adoption
- Credit Card Processing Industry
- List of Credit Card Processing Companies
- List of Credit Card Processing Networks
- List of Payment Gateway Providers
- M-Commerce: Mobile Shopping Trends
- E-Commerce Payment Technologies and Trends