Banks need to develop their own mobile wallets

Mobile wallet use is growing. Most consumers (65%), however, want one payment application on their phone, and most would prefer that that application be from their bank. This presents a great opportunity for banks to stay relevant and engaged with clients by meeting their unique needs and offering a trusted and secure payment application. Banks, however, need to act now to capture this market and work hard to ensure that mobile wallets work as expected, offer unique controls to clients and have proper routes to avoid false negatives resulting in a declined payment.