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Mobile wallets: Where do I keep my receipts?#

Since Google's released its first mobile wallet five years ago, a slew of companies have released their own mobile wallet products.

Among them are Apple Pay and Samsung Pay, retailers like Walmart and Kohl's, and even banking institutions including Chase Pay and Capital One. However, even though new Mobile-Digital Wallets continue to the market with a frequent cadence, they have yet to be widely adopted by consumers. And, as the market continues getting more saturated, it begs the question, will they really ever get enough traction to take off?

Even though companies continue to heavily invest in the development of Mobile-Digital Wallets by increasing their compatibility with various point-of-sale systems and including more of what consumers want, none of the current options on the market have taken into account a fundamental part of the shopping experience: receipts.

This lack of forethought begs the question, if consumers are expected to carry out entire transactions using only their mobile device – because it's more convenient – why should they still be expected to keep track of paper receipts? Mobile wallets need to prioritize digital receipts and include them as a basic utility in their solution. Doing so will play a key role in increasing consumer adoption.

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More Information#

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