Personal Payments and Commerce 2017: A Year in Review

by Zilvinas Bareisis, January 11, 2017
Industry Trends


Celent has released a new report titled Personal Payments and Commerce 2017: A Year in Review. The report was written by Zilvinas Bareisis, a Senior Analyst with Celent's Banking practice.

This year Celent published the seventh edition of its annual trends review in retail payments. This is a companion to the Top Trends in Retail Payments: 2017 Edition report.

In 2016, the first significant steps towards the vision of contextual commerce have been taken, yet much work remains to be done. Concepts like chatbots, artificial intelligence, machine learning, cloud, and voice-based interfaces have real potential to redefine our payments experience.

Adoption of mobile wallets has so far been disappointing. And yet, there are reasons to be cheerful: the three major wallets made strides in availability, acceptance, and value proposition.

Although CurrentC from MCX, a merchant consortium, is consigned to history, merchant apps are well positioned to drive adoption of mobile payments. In P2P, it will take a sustained marketing effort for Zelle and the banks to succeed. Zelle and its competitors will coexist by serving different segments or different customer needs.

“Successfully weaving compelling consumer experiences across multiple companies and seamlessly embedding payments is difficult, but we expect to see more in 2017,” commented Bareisis.

“We believe that supporting in-browser transactions will be a critical driver for the adoption of mobile payments. We expect mobile wallets to continue to get better and to focus on their comparative advantages over cards,” he added.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents



Contextual Commerce: A Step Closer to Reality


Mobile Wallets: Don’t Write Them Off Yet


CurrentC Is Dead. Long Live Merchant Apps!


Is This the Year (the US) Banks Win in P2P?


Using Transaction Data to Create Value for All Parties: V2.0


Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


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