Are Digital Wallets Here to Stay?

“Ubiquity is the big obstacle here.”

By Alain StephensJanuary 26, 2017 3:48 pm| ,

The classic question “what’s in your wallet?” could soon be “what’s your wallet in?” Digital wallets are an emerging technology that allows customers to sync their phones with their credit cards. Android Pay, Apple Pay, Samsung Pay, and Walmart Pay are some of the biggest contributors to this trend but each with varying degrees of success.

Omar Gallaga of the Austin American Statesman’s 512 tech, says these apps and services are struggling to find footing but could make an impact soon.

“Ubiquity is the big obstacle here – you want to know that any place you go that takes credit cards, you’ll be able to use it,” Gallaga says, “and we’re not there yet.”

What you’ll hear in this segment:

-Which apps and services are making the most progress right now

-The drawbacks of early prototypes of this technology

-Where the trend headed and whether it has staying power