Apple, Google and Samsung are all vying to dominate the nascent mobile payments market sector. Samsung, a newcomer to the competition, has already signed up five million U.S. users, who have racked up $500 million in transactions since launching in September. Apple Pay is estimated to have 12 million monthly users and Android Pay has five million. Still, adoption of mobile payments hasn’t caught fire yet. Not all retailers accept mobile payments, which also require later-generation phones. Continue reading Apple, Google, Samsung Battle to Dominate Mobile Payments

Apple Pay is experiencing a rocky road to adoption. On Black Friday, it was used for about half the number of purchases as last year. On the plus side, Apple has added to the list of vendors allowing consumers to use Apple Pay, but the company is also entering the world of friend-to-friend payments, which are expensive to operate and hard to monetize. What could tip the balance is the deal Apple inked with China UnionPay to be used at Chinese cash registers. But only time will tell. Continue reading New Features, Deals Could Turn Things Around for Apple Pay

Apple plans to turn its new iPhone into a mobile wallet via partnerships with various banks, payment networks and retailers. The company has agreements with Visa, MasterCard and American Express, according to a person familiar with the plans. The new iPhone, expected to debut at Apple’s September 9 press event, will reportedly make mobile payments easier with a new NFC chip and the company’s Touch ID fingerprint reader. A mobile wallet could help keep consumers within the Apple ecosystem. Continue reading Will Apple’s New iPhone Help Pave the Way for Mobile Wallets?