by Michael Patrick McSweeney (@mpmcsweeney)
The mobile-wallet market has seen nothing less than explosive growth the past few years, setting the stage for fierce competition between companies and innovative developers. Moreover, recent studies suggest consumers are investing more time on digital pursuits, particularly with their mobile devices. Simply put, the mobile ecosystem is heating up rapidly.
Despite the rise consumer mobile activity and interest, however, few wallet providers will survive.
In a conversation with Market Platform Dynamics CEO Karen Webster, Cortex MCP founder, president and CEO Shaunt Sarkissian remarked that one of the major emerging battlegrounds will focus on mobile wallets. Calling it the “mobile wallet war,” Sarkissian acknowledged the market challenges that eventually led to Cortex’s approach. (Jump To: 1:20).
“We fundamentally saw a lot of problems as a team before we started the company. There’ so much fragmentation. There’s ethnological conflicts. There’s political conflicts. If we want to use that analogy – the mobile wallet war – no one was using an effective weapon yet,” he said.
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