Executives from MasterCard, PayPal, VeriFone and Boku discussed mobile and digital wallets at the 2013 MultiScreen Summit in New York yesterday.
During the “Panel Debate: What is the Anatomy of a Wallet?,” Market Platform Dynamics CEO Karen Webster moderated a discussion between the payments giants about how the mWallet industry is growing and changing.
Ken Moy, U.S. emerging payments lead at MasterCard, emphasized that it’s we’re still in the early stages of mWallet acceptance.
“We’re in the first inning of this game,” Moy said according to Mobile Commerce Daiely. “From a payment services perspective, we’re focusing on payments, but that’s really just the beginning of the journey. The journey is about how these smart devices – the most personal items for consumers – become more of a companion for those consumers and create experiences that consumers come to enjoy and come to know.”
Scott Hendrickson, head of advertising solutions at PayPal, San Jose, emphasized the importance of data in mobile payments.
“At the core of all of that is a really great data set, and that’s something that obviously everyone talks about and it’s really important, but when you think about all the data that eBay and PayPal have to deliver more relevant recommendations and offers that’s really important,” he said.”
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