PHOENIX—The Payments Innovation Alliance, which is part of NACHA - The Electronic Payments Association, has released a new white paper: “The Winning Mobile Wallet Solution.”
Authored by The Alliance’s Mobile Wallet Team, the paper provides details on the capabilities and benefits of financial institution- and retailer-branded mobile wallets and the importance of interoperability to help achieve success.
“‘The Winning Mobile Wallet Solution’ serves as a tool to help empower and encourage collaboration between financial institutions and retailers to develop mobile wallet solutions that reinforce and support their brand, their accounts and their customer relationships,” said George Throckmorton, managing director, advanced payments solutions at NACHA, in a released statement. “To achieve widespread adoption, retailers and financial institutions need to work together and leverage each other’s strengths to create mobile wallet solutions that will win the loyalty and utilization of consumers.”
The white paper (and supplementary document) provides information about mobile wallets and their functionality, the business case for mobile wallets, and the value and benefits. It also sheds light on the potential of mobile wallets when financial institutions and retailers work together, merchant acceptance, and new payment applications. The white paper and supplementary document also include case studies, providing real-world examples of innovative mobile wallet solutions.
For more information or to download a copy of “Winning Mobile Wallet Solution,” visit https://allianceexchange.nacha.org.