ABN Amro has recently announced it will discontinue is Android based mobile wallet – joining a ever growing list of deceased mobile payment platforms.
In October PCM reported that JP Morgan Chase followed other major banks and shut down its mobile wallet app, Chase Pay. This represents the bank’s third reversal on its digital offering in as many months.
The shut down comes as no real surprise when you look at the list of high profile companies with large market share that have also been forced to shut down their mobile wallet offerings either because of deals struck with Google and/or Apple, or their inability to translate market share into mobile payment usage. Companies such as O2, 7-Eleven, the State Bank of India, LoopPay and even the mighty Google wallet have all announced closures.
The decision to discontinue the in-house wallet comes just a month after ABN Amro rolled out Apple Pay for contactless payments on iPhone, Apple Watch, iPad and Mac.
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