More companies vying for mobile purchasing domination

As there is currently a major push under way to promote widespread adoption among consumers in the mobile wallet industry, there are still many questions that remain largely unanswered.

A wide variety of companies developing their own digital wallet platforms these days are in various stages of rolling them out, and that has many experts wondering just where the industry may go, according to a report from the investing news website the Motley Fool. This has both positive and negative effects on the industry as a whole.

The good news is that more companies in the arena will lead to more innovation and probably better incentives for consumers to adopt sooner, the report said. However, the downside of all the competition is that businesses may not be as willing to get in the game early because they wouldn't want to back a technology type that ends up falling out of favor.

Whatever method for digital wallet purchasing ends up being adopted on a large scale, it will be more secure for consumers. Until that day, consumers should also check their credit report regularly for any errors or unfair entries that may be negatively affecting them.