Digital Wallet Adoption Still Moving at a Snail’s Pace: Print Preview
- Half dozen viable digital wallet products now on the market.
- Some credit unions are still trying to figure them out.
- Experts urge patience with adoption.
The future of digital wallets is uncertain and the earlier predictions of quick market adoption may have been proven wrong, according to some experts and credit unions using the technology.
In explaining the V.me adoption, Randy Hopper, Navy Federal’s assistant vice president of credit card lending, said, “Given that our members gravitate toward digital channels, we see this as an excellent opportunity to offer something that makes their lives easier.”
Shaun Bodington, who heads V.me for Visa, said “V.me is a commerce platform with payments at its heart. We have focused on ecommerce. Consumers are challenged making purchases on mobile devices. We are trying to make it convenient.”