Last evening I threw a party at a popular pizza joint, in celebration of my promotion. At the checkout, I realized to my horror that I had left my wallet at home and had neither cash nor card to pay with. I had to borrow money from a friend to settle the bill. Had this restaurant signed up for a mobile wallet service, I wouldn't have faced such embarrassment. With the growing numbers of smart phone users and tech-savvy population across the world, mobile wallet adoption should have been a done deal; yet, we continue to carry physical wallets. The reason is that there are a number of bottlenecks hindering adoption by both merchants and consumers.