Report: Apple, Google to challenge carriers on mobile wallets

The mobile wallet and payments market is still developing, but wireless carriers should keep an eye out for strong competition from Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG), according to a report from ABI Research. The report found that these offerings will erode carrier-controlled mobile wallet offerings, and that carriers will provide 75 percent of all mobile wallets in 2012, shrinking to 63 percent in 2016. According to ABI, Apple will introduce a mobile wallet solution for the iPhone in 2012, which will compete with carrier offerings. The report also said Google Wallet will likely succeed in markets where carriers will not feel the need to invest in and support mobile wallet infrastructure. By 2016, there will be 594 million Near Field Communications-based mobile wallet users around the world, according to ABI. Release


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