While mobile-wallet platform providers see demand for white-label wallets, some merchants say they see room for improvement in the current offerings.
Deployments of mobile payments by single merchants may help get the market rolling, said Kevin Laracey, CEO of U.S.-based Paydiant, a provider of a white-label wallet and QR code-based mobile-payments product.
“The standard story in the mid-2000s from some of the entities that were very large scale is the only way mobile payments would ever come into existence is if they could work everywhere right away,” he said. “But I think what we're seeing with applications like the Starbucks application or Dunkin' Donuts or others is that, guess what, it doesn't have to work everywhere, and I think what we're seeing is, in those individual deployments, you're seeing the first signs of a very open ecosystem emerge, and I think will be the foundation for what happens in the endgame.”