Who is winning the mobile wallet race?

The answer might surprise you. PayPal moved up strongly in Javelin’s TIP (Trust-Innovation-Privacy) consumer rankings to grab the lead from Visa this year. PayPal is the most trusted brand among consumers compared to Apple, Google, Amazon and Facebook, and compared to the top banks, major payment networks and largest mobile network operators.

For full details, refer to “2013 Gang of Five: Apple, Google, Amazon, Facebook, and PayPal/eBay-Threat of the Mobile Wallet Disruptors.”

What is particularly worrisome for financial institutions, mobile network operators, and payment networks is that only members of the Gang of Five posted gains in consumer perceptions of privacy protection and security: none of the legacy brands did. If these innovative institutions continue to make gains in consumer perceptions of trust, innovation and privacy, the likelihood of a successful mobile wallet offering increases.

Author

About Daniel Van Dyke

Daniel is an Analyst in Javelin's Mobile practice area. His contributions at Javelin have informed market trends in mobile banking, payments, and technology initiatives for top financial institutions and vendors. In his three years at Javelin, Daniel has co-authored reports on mobile wallets, mobile POS, photo banking, digital channel strategies, and other emerging trends. Additionally, he has tracked emerging mobile banking trends and the obstacles for consumer adoption for the largest 25 financial institutions and mobile banking vendors.


Leading banks, credit unions and fintech companies have tapped Daniel's strategic insights through advisory services, custom reports, and webinar presentations. His mobile research and thought leadership have attracted growing media interest, from a live appearance on Fox Business News to consistent coverage in trade publications.

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