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How will banks address mobile wallets?

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MasterCard’s recent decision to enable banks to add an in-store payments element to their mobile banking app for NFC-ready Android smartphones has rekindled an industry argument about what works best for financial institutions and proximity mobile payments.

Banks today have two options: Go the Chase Pay route with a separate app that sits alongside the mobile banking app; or make NFC-based mobile payments a feature within a mobile banking app.

Over the past nine months, Mobile Payments Today has conducted several interviews on this topic with industry observers, and it’s clear that an enhanced mobile banking app is a more desirable option than a standalone app.

For more on this story visit the following link: How will banks address mobile wallets?

Source: Mobile Payments Today

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