Mobile Wallets: The Latest Digital Bling

In this acute age of class warfare, elitism, and social media tools, somewhere in the middle of all of it, the retail and financial services industries are spawning the latest “Must-have” digital bling: mobile wallets. (or digital wallets) Will credit cards become a thing of the past? Will retailers pull away from all the transaction fees they have to pay on credit card purchases and go to a Smartphone app-based transaction model instead? What about other payment processors like PayPal, Google, and others? These are some of the strategic questions starting to pop up across different boardrooms and industry analysts as the idea of putting together a “digital wallet” application for Smartphones begins to get real traction.

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