Google vs. Competitors: Commerce Market – Wallet Systems
A battle is raging in the mobile commerce arena in the area of mobile payments. Google is battling against others literally for (electronic) wallet share. The stakes are high because whomever wins the battle for wallet share will have a huge advantage when it comes to actual mobile commerce. Payment solutions can be categorized on the basis of the payment settlement methods, which are instant-paid, postpaid, prepaid or a combination of these. In the prepaid solution, customers buy a smart card where the amount equivalent is stored and then pay of this for goods or services desired. Subscription of services can also be considered as prepaid type of payment. The prepaid type of solutions allows privacy to users since at no point of the process is required to disclose any personal data. Our research indicates that mobile payments will remain a large portion of mobile commerce despite rapid growth of other areas such as mobile checkout, coupons, and others. Google is expected to hold a substantial position in the marketplace while others position themselves for strategic alliances.