On Wednesday (Dec. 9), Deloitte released a major mobile report and concluded that mobile payments is suffering from a payments industry self-inflicted wound: an almost criminal lack of shopper and store associate education about mobile payments.
This is one of those good news/bad news situations. The good news is if the payments industry leaders act smart, this problem can not only be solved, but reversed. Consumer and store employee education will sharply boost mobile payments usage—and that will on top of a continual influx of new mobile shoppers as more people upgrade to NFC-friendly smartphones. The bad news is—when was the last time you saw a lot of payments industry leaders acting smart?