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With the launch of Visa's Digital Enablement Program (VDEP), the economics of mobile payments are being transformed. VDEP will create standards for the industry which could upend the revenue models of some of the biggest entrants to the market.


  • VDEP's no-fee transaction model will prevent participating wallet providers from acting as toll takers on transactions that pass through their platforms. This will require a fundamental rethink on how these wallet providers generate revenue, but will introduce enormous scope in terms of scalability and market reach.

Features and Benefits

  • Evaluates the implications of VDEP and what they mean for existing mobile wallet platforms.
  • Assesses the impact of Apple Pay's concession for 15 basis points per transaction and whether it is repeatable anywhere outside the US.

Key questions answered

  • What is VDEP and how will it affect the global rollout of mobile proximity payments?
  • How scalable is Apple Pay's revenue model? Can Google do something similar with Android Pay?
  • What are the long term implications of VDEP? Will this have an impact on mobile wallet design?

Table of contents

Ovum view

  • Summary
  • Apple Pay works, but not to the banks’ benefit
  • VDEP is allowing Visa to cement its place in the mobile payments value chain
  • Economics not technology will ultimately drive mobile proximity payments


  • Further reading
  • Author

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