You Can’t Win the Mobile Payments Game If You Don’t Play: Letter to the Editor
CU Wallet Founder Paul Fiore responds to Amanda Smith's Aug. 15 opinion piece that questioned demand for mobile wallet services.
By Paul Fiore|August 25, 2014 at 10:39 AM
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No one knows which mobile payment technology will ultimately win or how long it will take for mass adoption among merchants, but we do know for certain that credit unions find themselves at an inflection point in the payments industry, and they are not alone. Massive technology companies including Google, Paypal, Amazon and Apple, who have little interest in the highly-regulated banking industry, recognize being first to enroll mobile wallet customers provides them a marketing platform opportunity that will be far more lucrative than interchange.
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