A new study from BearingPoint claims that Irish banks risk losing out to innovators in telecoms and other sectors who can offer comprehensive mobile payment services. The report by the consultancy firm says Ireland is one of a number of countries where incumbents are being squeezed as they try to compete with innovative firms such as Apple Pay or Google Wallet.
A new study from BearingPoint claims that Irish banks risk losing out to innovators in telecoms and other sectors who can offer comprehensive mobile payment services. BearingPoint explained that telecoms companies are rapidly evolving and providing options that attract customers with busy lives, while the banks are slow to respond to the industry and consumer demands for such services.