For instance, once interoperability comes into effect, mobile wallets can issue their branded pre-paid cards to their customers for online and offline transactions. The mobile wallet companies will no longer have to collaborate with banks to issue such cards. Alternatively, mobile wallets can approach leading payment network operators to roll out such pre-paid cards. Going beyond paying mobile recharges or utility bills, people will look at mobile wallets as micro-credit or micro-insurance instruments. Mobile wallets have to focus on securityHaving said, that breaking into that growth trajectory hinges much on their efforts.

Source: dna January 09, 2019 01:07 UTC