Mobile wallets aren't quite here yet. The technology is still in development, but is very promising. Just about everyone has a mobile phone and by providing secure software that will allow people to simply "swipe" their phones in some manner to pay for purchases, the whole process of credit card payment could be abbreviated.
So What is the Hold Up?
There are several features that any tips on selling merchant services mobile wallet must have for it to be successful. First, it must allow the buyer to select which card they wish to use for which purchase. Next, it must work with whatever phone the buyer already has. It must allow for use of current accounts, without requiring the buyer to establish new lines of credit. Security must be extensive so that if a person loses their phone, their credit card information isn't at risk and finally, a mobile wallet must work as quickly as a regular credit card to replace it.
All of these features may seem simple enough, barring the security issue, but actually, they take a great deal of programming, planning and work.