"Adam Bialy, head of payment technology at Sainsbury’s, revealed at an RBTE 2017 panel discussion that retailers currently see mobile payment vendors as a ‘threat’.
The retailers’ perspective is that many people have joined the payments industry just because they want a piece of the data,’ said Bialy."
This is a very interesting perspective. As I mentioned in an online discussion about this the other day, it isn’t the loss of transaction fees that bothers the incumbents (because they all have ideas for value-added services that will replace the missing income) but the loss of data (because without the data they can’t make any value-added services). These are real fears.