I can’t help it – I’m a consultant; I love putting things into categories and into context. I always find pictures and “maps” help when things get confusing. So here’s my latest attempt at making sense of what’s going on with mobile payments and cards.
What really jumps out for me is the issue of card-not-present rules for cloud wallets. Particularly if these wallets are populated with issuer tokens, rather than full card numbers – it seems like it might make sense for the CNP rules to change.
I’m less concerned about the interchange impact here (although that is significant, for credit cards) and more about the liability issues. Of course, what makes sense doesn’t always happen – but I remain optimistic.