Because that would be what they would react to in a different way, right? So they don't feel any pressure from their own customers to offer this? That's not an issue.
I mean, it goes to bat when it's about protecting margins and being able to increase its own market power. Walmart is the most aggressive retailer on the planet when it comes to guarding payments. I think if you're looking at how things look today, you could argue that at some point Walmart may also have to capitulate, but let's also take a look back. So I don't think it's going to fail or fall for quite some time, frankly. And I think Walmart has a lot of the same ambitions from a retail standpoint that you could argue that Amazon and even Apple would have. And it does have Walmart Pay, which it may not be used to the extent that Apple Pay is used, but I think you do have some Walmart Pay loyalists that have bought into Walmart Pay. It's already gotten that started by transitioning it's branded prepaid cards into essentially neobank checking accounts. So it's got a real foundation there and you know that it's ramped up its own FinTech operations, has neobanking aspirations within that. It's been a lifeline to the underbanked in this country. I mean, the original major player in alternative financial services is Walmart, where it still has a very large footprint. Well, I think, unlike Kroger, which I don't think has the tech chops necessarily, Walmart, I think, has made its ambitions in financial services clear for a long time. So given all that, Dave, when do you think Walmart's going to fall and start accepting Apple Pay? It had its ambitions with a wallet, it's not going to happen. And recognizing that as much as Kroger may like to, it cannot compete on tech. And Kroger has finally pulled the plug, capitulating on consumer pressure to have Apple Pay at the point of sale. Well, I would actually reframe it as a capitulation more than a sea change. The article highlights that Kroger, which is the fifth-largest retailer in the US has until now held out enabling customers to check out using Apple Pay. The first article, Kroger's Apparent About Face on Apple Pay Signals Sea Change. I've chosen two recent stories that we published for the Headlines today. In the headlines, we chat about a top story or two as it relates to our episode. We have a lot to cover so let's get right to the Headlines. You know what's funny is at least you teed that up, Rob, and I had a feeling this was a joke this time. Why did the digital wallet go on a diet? I don't know, Rob. Historically the PayPal Wallet has been my go-to, but I've found Apple Pay more relevant post-pandemic. So I shoot out of here, get a little lunch at McDonald's, come back. Well, I hate to admit that I went to McDonald's yesterday. Hey, before we get into it, Dave, are you ready for some quickfire questions? I invited back Principal Analyst for Payments at Insider Intelligence David Morris to unpack why Apple will dominate digital wallets for the foreseeable future and how everyone else must deal with it. The title of today's episode is Apple Pay's Suite Domination, refers to how Apple Pay is looking in the digital wallet space, which is pretty good. If you enjoy this podcast, please give us a five star rating and subscribe. I'm Rob Rubin, GM of Financial Services and your host today. Hello everyone and welcome to the Banking and Payment Show, a Behind the Numbers Podcast from eMarketer, sponsored by TransUnion's TruAudience Credit Inform Marketing Solutions. What could derail this juggernaut? I'm not sure, other than some kind of regulatory intervention, and that goes for other kind of financial services paths that we haven't even gotten into. There's wealth management and other things that I think could be on the table. And there's other avenues beyond consumer banking that they can explore.
It's buy now pay later product is also more affluent skewing in some ways than some may realize out there. I think Apple may stick with the affluent skew. Visit /creditinformmarketing to learn more about our credit marketing solutions today. TransUnion's TruAudience Credit Inform Marketing Solutions help you reach credit prospects when and where they are most likely to convert, without compromising your risk tolerance. This episode is sponsored by TransUnion's TruAudience Credit Inform Marketing Solutions.
0 kommentar(er)
