Aite Group to honor digital wallet innovators at MPC19

On March 4, 2019, Boston-based Aite Group LLC launched a global directory and worldwide competition to recognize digital commerce growth. The Digital Wallet Database, published in partnership with Mobey Forum, is a comprehensive listing of service providers, Aite representatives stated.

The global research and advisory firm is also calling for submissions for its Digital Wallet Innovation Awards, a competition aimed at showcasing best-in-class ewallet solutions and capabilities. Aite representatives said a panel of experts will judge contestants at the 2019 Mobile Payments Conference, to be held Aug. 26 to 28 at the Swissôtel Chicago.

Marla Ellerman, Mobile Payments Conference executive director, has observed growing interest in mobile payments over the past decade. "This year, we will recognize the innovators and decisionmakers who have led the mobile payments evolution," she said.

Thad Peterson, senior analyst at Aite Group, believes the ninth annual Mobile Payments Conference is an ideal venue for honoring digital wallet innovators who are changing the look and feel of payments. "Digital wallets are leading an explosion of innovation in the payment ecosystem, and it's great to have an opportunity to recognize the leaders of this revolution," he said.

Key growth drivers

Aite research indicates digital wallets may soon overtake payment cards as the most popular ecommerce checkout schemes. Researchers cited the following drivers for this trend:

• Convenience of use (tokenized credentials, one-click payment) over multiple channels

• Ease of integration with merchant applications to facilitate in-app payments

• Value-added services offered through the wallet such as electronic receipt management, loyalty and rewards, and targeted offers

Ellerman suggested the expansion of 5G networks will continue to drive mobile commerce growth while providing opportunities to remove friction digital and mobile transactions. "That's our challenge as an industry and the focus of MPC19," she noted.

Call for entries

Aite will accept nominations for digital wallet innovators between March 4 and May 31, 2019, in the following five categories:

• Customer experience
• Merchant experience
• Product design
• Value-added services
• Market adoption

Aite further noted that nominees must meet the following requirements:

Only digital wallet providers or individuals with explicit consent from their organizations can submit the nominations.

Nominated innovations must be in production.

All nominees must be willing to allow Aite to publicly announce and describe their initiatives, should they win.

A break-out year for fintechs

"The Digital Wallet Innovation Awards and the results of Aite Group's research will be a focal point for MPC sponsors, exhibitors and attendees," Ellerman said, adding she expects 2019 to be a break-out year for mobile payments solution providers and fintechs.

Other hot topics to be featured at MPC19 include 5G network evolution, contactless cards, voice-enabled commerce, connected cars, noncard payments, cardless cash, cryptocurrency, blockchain, security, the Internet of Things, international markets, emerging payments schemes, business-to-business applications, loyalty programs and high-risk merchants.

The event, themed Global Commerce in Motion: Enabling Frictionless Mobile Payments, MPC19 will focus on the impact of the 5G revolution on mobile commerce and removing friction from the payments process for users and merchants, Ellerman stated.

For more information or to register, visit www.mobilepaymentconference.com .

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