The survey found that consumers expect to acquire mobile wallets from the following providers, if available:
• 18.4% of consumers would acquire mobile wallets from banks (e.g., American Express, Barclays, Lloyds TSB, etc.)
• 11.6% of consumers would acquire mobile wallets from digital/mobile payment providers (e.g., PayPal, Skrill, Neteller, etc.)
• 9.5% of consumers would acquire wallets from mobile providers (e.g., O2, Vodafone, etc.)
• 5.1% of consumers would acquire wallets from external providers (e.g., Google, Apple, Facebook, etc.)

The mobile wallet is poised to gain strong momentum and usage over upcoming years, so in order to capitalise on the strong consumer interest, banks will need to consider their preferred path moving forward in this space. Banks can either invest in the development of proprietary mobile wallets, or partner with existing mobile wallet providers to serve as a funding mechanism for the wallet. Non-traditional providers, conversely, need to either prove their experience within the financial services space, or partner with existing payment providers.

"The key to the success of the mobile wallet is to deliver a product that serves a clear purpose and delivers on a consumer need", said Matt Simester, Managing Director at ACG. "In addition, banks will need to find ways to monetise the mobile wallet, to ensure it becomes financially viable in the long-term."

Additional Key Findings
Mobile wallet prospects (consumers that expressed interest in acquiring a mobile wallet) selected the top reasons they would acquire a specific provider's mobile wallet as the following:
• 72.7% of prospects selected their reputation/trust in the provider
• 62.0% of prospects selected their existing relationship with the mobile wallet provider
• 52.9% of prospects selected the provider having past experience within the financial services space
• 52.1% of prospects selected the features and benefits offered on the mobile wallet
• 38.0% of prospects selected their loyalty to the brand that issued the mobile wallet
• 33.6% of prospects selected the mobile wallet's ratings and reviews

Mobile wallet prospects ranked their interest in various types of mobile wallets as follows:
• Ranked #1: Mobile wallet provided by my bank, which offers the ability to link only their cards onto it
• Ranked #2: Mobile wallet provided by my bank, which offers the ability to link cards from multiple banks onto it
• Ranked #3: Mobile wallet provided by a non-bank provider (e.g., Apple, Google, O2, etc.), which offers the ability to link cards from one bank onto it
• Ranked #4: Mobile wallet provided by a non-bank provider (e.g., Apple, Google, O2, etc.), which offers the ability to link cards from multiple banks onto it