At its I/O developer conference this May, Google announced Google Wallet -- a comprehensive digital wallet app that replaces Google Pay in several regions. In addition to helping users make payments with an Android device, the new Google Wallet app lets them store everything from digital IDs to boarding passes. Soon after the announcement, Samsung also debuted its new Samsung Wallet app, which offers a similar feature set, but only for Galaxy smartphone users.
Apple also offers a similar digital wallet app exclusively for iPhone users, which can store payment cards, IDs, boarding passes, digital keys, and much more. While all three wallet apps offer a wide range of useful features, they lack one crucial capability that can be an inconvenience for those not completely invested in one particular ecosystem -- interoperability.
Although we don't expect either of the three tech giants to open their walled gardens to offer interoperability between their digital wallet offerings, the Linux Foundation has proposed a new consortium that might be able to help third-party digital wallet apps address this issue.
The proposed OpenWallet Foundation (OWF) is a "consortium of companies and non-profit organizations collaborating to create an open-source software stack to advance a plurality of interoperable wallets." The OWF aims to develop a secure, multi-purpose open-source engine that third-party app developers can use to build interoperable wallets.
The OWF's open-source software engine will be available for third-party developers to build digital wallet apps that support a variety of use cases, including payments, ID support, digital key support, and more.
The OWF will be featured in a keynote presentation at Open Source Summit Europe on 14 September 2022. We expect the Linux Foundation to share more details about the new consortium and participating members at the event.
What's your take on the OWF's aim to promote interoperable digital wallets? Would you prefer a third-party digital wallet app that offers interoperability over first-party offerings from Apple, Google, or Samsung? Let us know in the comments section below.
Source: The Linux Foundation