In the world of mobile payments, there are far too many options to choose from these days. Fragmentation of the mobile payments industry may seem beneficial to the consumer, but without streamlined payment options most consumers can use wherever they go, there is still a lot of work to be done. So far, this leaves a lot of room for Bitcoin, albeit its adoption rate is still relatively low.
Incentivisation Is Key to Boost Mobile Payment Popularity
One of the things nearly every mobile payment solution lacks today is incentives. Consumers who own a smartphone indicate they would be more willing to check out mobile payment solutions if there was a loyalty or reward scheme. With the rise of digital wallets, that should not be a problem.
One way to address this issue is by creating a cross-compatible wallet solution that can support multiple loyalty programs. Having the option to track all balances and even transfer points between programs would be a perfect outcome. Unfortunately, that seems an unlikely result, as individual app creators and stores have no desire to support competitor offerings.