The Mobile Payments Industry Workgroup (MPIW) convened a meeting in April 2015 to (1) discuss the impact of Apple Pay on the current mobile wallet landscape; (2) gain insights from small and regional financial institutions (FIs) on their mobile wallet experiences; and (3) receive an update from organizations invol ved in mobile payment standards. Several key points emerged from the panel discussions:

1. the entrance of Apple Pay into the mobile wallet market has had a significant, positive impact on the payments landscape;
2. the timing of Apple Pay close to the deadline for EMV migration will further help to drive NFC adoption;
3. the evolution of mobile/digital wallets and payments means different things to various stakeholders -card networks, FIs, merchants, and payment processors; and
4. interoperable standards that support a rapid pace of technological innovation are critical to advancing the industry.