Rick Oglesby, senior analyst at Double Diamond Payments Research, says Apple has killed the mobile wallet. No offense to Mr. Oglesby, but I think just the opposite is true. In fact, I believe Apple has done itself and its customers a gross injustice by walling off access to its wallet contents, which currently include payment data as tokens.

Apple is the only company that owns and controls the hardware, firmware and operating system of the device used. And it has big enough political chops to push the product through traditional channels, all while signaling the death knell for the mobile wallet supported by the same channel that couldn’t say “no” to Apple the way they did to Google.

Apple killed the mobile wallet? No, not in the least. Has it influenced the way competitive wallets grow? Absolutely. But I wouldn’t run out to buy shares in chip manufacturers because of it. Software-only solutions that use proven token generation, storage and transmission methods are not dead. They will just take a new route to fruitition.

Mobile Payments Today, January 26, 2015
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