If Mobile Wallets Functioned More Like Leather Wallets, Usage Might Get a Lift, Research Says
Ever since mobile payments first captured the public imagination four years ago with the launch of Apple Inc.’s Apple Pay, experts have debated why usage of the iOS and Android wallets has fallen short of the original, lofty expectations. Some speculate that usage would rise markedly if the mobile walletsfunctioned more like their leather counterparts, only with the twist of digital convenience. And now evidence is emerging to support that claim.
Last month, Apple said students at three universities could load their student IDs into Apple Pay, allowing them to use the credential for such routine tasks as going to the gym, opening dorm rooms, or checking out library materials. Also in October, Ant Financial Services Group’s Alipay wallet started supporting marriage certificates in Jiangsu province in China, easing the way for users to apply for a mortgage, transfer property, or open a startup company.