Sprint Plans to Launch own NFC Mobile Wallet?

Sprint is planning to launch its own NFC mobile wallet as early as this summer, NFC Times reports. Sprint earlier had been the only U.S mobile service provider to support Google Wallet. The obvious question is whether this means Sprint will drop support for Google Wallet.

Sprint apparently sees advantages in rolling out its own wallet, which according to the sources is named “Touch.” With a wallet, Sprint could build relationships with banks and other service providers.

“The limitation isn’t the wallet; the limitation is the secure element,” said a source at Sprint, who added the Sprint wallet offers a “legitimate alternative to Isis.” That rather suggests Sprint has to make a choice between its own offering and Google Wallet, as a wallet apparently needs control of the secure element used to authenticate users and credentials.

Some of you will want to shake your heads at the growing number of wallet platforms, not to mention payment systems. Market fragmentation always is quite high at the start of any new business expected to be sizable.

The emergence of more competitors "validates" the market, executives like to say. That might be true, but fragmentation also will slow adoption, to the extent that users have to lock into devices, service providers or exclusive apps.