With the growing consumer adoption of mobile wallets from Apple, Google, and Samsung, as well as dozens of merchant wallet offers from the likes of Starbucks and Walmart, bank customers have grown comfortable sharing their payment card details in pursuit of quicker and more convenient e-commerce and point-of-sale checkout. Add to that a rapidly expanding universe of connected devices looking to make payments on consumers’ behalf — including smartwatches, home hubs such as Amazon Echo and Google Home, and fitness bands from Garmin and Fitbit. 

Consumers are struggling to grapple with the cross-channel payments options available to them through multiple devices and merchants. This has created a need for a more consistent way for consumers to set up and manage these connections, and the major card networks have responded.