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Mobile wallets are a growing destination for digital “default” payments

By the numbers

The Deloitte Center for Financial Services defines “default” payments as transactions made with stored payment—enabling information of credit cards, debit cards, and bank accounts on websites or mobile apps.

June 14, 2017

Our research results, based on a proprietary mobile diary and online survey, indicate that mobile wallets (an application that stores multiple credit cards, debit cards, and bank account information to enable payments with a smartphone) are expected to increase default payments made at merchants’ point-of-sale terminals.

QuickLook is a weekly blog from the Deloitte Center for Financial Services about technology, innovation, growth, regulation, and other challenges facing the industry. The opinions expressed in QuickLook are those of the authors and do not necessarily reflect the views of Deloitte.

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