Payments Archive

Billed as the world’s largest payment and financial services event, Money 20/20 kicks off in Las Vegas on October 23rd. The Rambus Bell ID team will be at booth 2525 in the Venetian Hotel, discussing all things mobile payments and tokenization, including newly announced products to simplify the deployment of NFC services

Mobile payments offer a plethora of benefits for consumers, retailers and financial institutions. For consumers, mobile wallets provide a convenient, “tap and go” frictionless commerce experience that seamlessly integrates loyalty cards, boarding passes, ID cards, coupons, event tickets, alerts and notifications. For retailers, mobile wallets can offer businesses the ability to engage users with an immersive, in-app experience that starts at the beginning of a retail journey and continues indefinitely with notifications, reminders of upcoming expiration dates, archived digital receipts and a real-time tally of current loyalty bonus points. For banks, digital wallets, which are far more secure than credit or debit cards, have fast become a strategic focus as consumer interest ramps up.

Michelle Evans of MobilePaymentsToday recently wrote an article about the top trends shaping mobile payments in 2016. Citing a Euromonitor International survey, Evans reports that mobile-driven commerce will reach an estimated $972.25 billion across 46 markets in 2016, with mobile payments expected to hit $3 trillion by 2021.

A new report published by Credence Research forecasts double digit CAGR for the global mobile wallet market from 2016-2023.

“Mobile wallet technology is touted to be the next generation technology in the era of cashless transactions, replacing traditional plastic cards,” the researchers explained in a report summary.

Mobile payments offer a plethora of benefits for consumers, retailers and financial institutions. For consumers, mobile wallets provide a convenient, “tap and go” frictionless commerce experience that seamlessly integrates loyalty cards, boarding passes, ID cards, coupons, event tickets, alerts and notifications. For retailers, mobile wallets offer businesses the ability to engage users with an immersive, in-app experience that starts at the beginning of a retail journey and continues indefinitely with notifications, reminders of upcoming expiration dates, archived digital receipts and a real-time tally of current loyalty bonus points. For banks, digital wallets, which are far more secure than credit or debit cards, has fast become a strategic focus as consumer interest ramps up.