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The cost of accepting a mobile wallet is highly variable depending on what technology they already have in place.
Visa executives say there needs to be tighter collaboration between companies providing mobile payments, and the mobile wallet is still three to five years away from mainstream adoption.
"The motivation for a consumer to transition to a mobile wallet is very minimal," said Aashish Bhinde, executive director of Avendus.
Square is perhaps the best example of this symbiosis: its clever mobile wallet is merely an offshoot of its main business, which makes it easier and cheaper for small merchants to accept credit cards.
The mobile wallet is here to stay.
The idea of the mobile wallet is gaining popularity around Europe as Rory Cellan-Jones explains.
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Its mobile wallet was already used by many small businesses, and Near.in's site will make it easy to manage their clients and payments, says Paytm founder and chief executive officer Vijay Shekhar Sharma.
Still, giving up the traditional cash box for a virtual mobile wallet was a big step for some savings and lending groups.
But while the technology is already being installed in millions of phones, wide adoption of the so-called mobile wallets is being slowed by a major behind-the-scenes battle among corporate giants.
There's just one hitch: While the technology is already being installed in millions of phones — and is used overseas — wide adoption of the so-called mobile wallets is being slowed by a major behind-the-scenes battle among corporate giants.
The rapid adoption of mobile wallets is just one.
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