Before I go to that topic – for those of you visiting this blog for the first time, this is the payment ecosystem diagram that I will be referring to in the remainder of the post. More details on this diagram can be found in the evolution of the industry in the last decade and the industry landscape today.
Here is the high level payment industry landscape with names of some leading players:
Payment Landscape - 2011 with some leading players
I had discussed on the basics of the wallet rush in this post here. For your quick reference, here is the diagram from that post.
The rush to be in your pocket!
As a disclaimer, I want to say that I am not working for any of the organizations mentioned here and am not biased to any company in any way.
In this post, I would like to discuss the current state of the wallet battle with the strengths and challenges of each of these players. Without further ado, here is my reading of the current state of the battle field. The first couple of diagrams contains the strengths of some players.
Strengths of the players - set 1
Strengths of the players - Set 2
These are the challenges that I think these players are facing…
Challenges faced by the players - Set 1
Challenges of the players - Set 2
While it is interesting to look at the current state, it is more interesting to predict what might happen.
Does an AMEX/Square partnership make sense? How can Google/ISIS make a bigger splash in this industry? Will an open wallet standard emerge?Comments? Any contradicting thoughts?