What Do Banks and Starbucks Corporation (SBUX) Have in Common?

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It seems likely, therefore, that the company that finally succeeds at capturing the fancy of the paying public with its own version of the mobile wallet might use banking apps as a launching pad. Consumer Reports opines that FIS, a company that provides banking apps, has just the ticket with its mobile wallet, which also makes use of cell phone-friendly QR codes to complete payment transactions.

An analyst at Berg Insight says that, in order for mobile wallet providers to be successful, they will be obliged to offer a full menu of products and services to make them attractive to consumers. In my opinion, he’s got it backwards. The Gartner study results indicate that less is more, and convenience and familiarity will win out — it’s just a matter of time as to which company gets there first.

The article What Do Banks and Starbucks Have in Common? originally appeared on Fool.com.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Google Inc (NASDAQ:GOOG) and Starbucks Corporation (NASDAQ:SBUX). The Motley Fool owns shares of Google and Starbucks.

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