How The Digital Wallet Will Drive Mobile Commerce in 2015

Mobile is on the rise and has helped disrupt many traditional industries, including transportation, accommodations, services and retail. As a result, mobile commerce is on a tear, and is expected to account for global revenues of $204 billion by year end.

 

As consumers shift to mobile, they’re demanding simple and straightforward buying experiences like those of Airbnb, Trunk Club, Uber and YPlan. The simpler mobile buying becomes, the more mobile commerce will grow. Yet there’s still a steep gap between browsing and buying on mobile. Too many obstacles still stand between consumers and merchants trying to connect via mobile devices.

 

Here are some predictions on how this environment will shape up in the coming year.

 

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Square Is Resurrecting Wallet, Its Pay-By-Name Mobile App, And Giving It Away

Wallet, the pay-by-name app that payments company Square introduced in 2011 and discontinued earlier this year, is back, according to an email Square sent to users Thursday.

 

Square is "retiring" Wallet but its putting its key feature—the ability to pay in stores by saying your name, without taking out a wallet or even your phone—inside Square Order. And it is offering the service to merchants for free—a powerful lure as powerful competitors like Apple, Amazon, and PayPal court the same retailers.

 

Square Order, an app Square introduced as it discontinued Wallet, allows for customers to place orders ahead of time to pick up in stores. That app is now adding a feature called Tabs, which is picking up where Wallet left off as a way of paying without having to swipe a card.

 

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