NFC TIMES Exclusive – Banks planning to launch host card emulation-based mobile payments have a decision to make: Should they incorporate the payments feature in their mobile-banking apps or introduce a separate wallet app.
Experts say there are pros and cons for each option. For example, it takes less development time to build a separate wallet app than incorporating the payments functionality in a mobile-banking app. In addition, a new payments feature that is part of the banking app could become buried among all the other services in the banking app.
But if they were launching a separate wallet app, banks would have to build the base of users from scratch. That would require more promotional and marketing costs.