The launch of Apple Pay in 2014 was heralded as a turning point for consumer adoption of mobile payments, an event met with both anticipation and anxiety among financial institutions. In the intervening years, while progress has been made, that groundswell of mobile-wallet wielding customers at the retail checkout has not materialized as expected. At the same time, broader adoption of mobile banking and fintech is skyrocketing, with consumers proving they’re open to new ways to pay if there are tangible benefits. That leaves financial institutions with an important question: As mobile payments continue to mature, what strategy will position their organizations to grow and deliver on consumer expectations?
