A group of big American retailers - including 7-Eleven, Target and Wal-mart - are developing their own mobile commerce platform, taking on a crowded field of banks, telcos and technology companies.
It would appear that this initiative has a good chance of succeeding... all the components are there -the business case will come from connecting consumers mobile wallets to their bank accounts via ACH or debit cards in the main. These merchants have the market
presence and the consumer numbers needed to build a solution that will probably work (only) in America to begin with. Control over the terminal integration - Wallet App, and the value derived from savings in interchange and MSC fees will mean that this group should
be able to build a cost effective model- and if the merchants drive adoption by discounting - they wont have to share these discounts with third party suppliers such as Google Wallet.
Maybe GW showed these guys the way... that and reference to how card based payment first started in Europe in the 1890's and in the USA in the 1920's, this always tends to be merchant led, and closed loop until critical mass is acheived.
© Finextra Research 2014