European regulators on Monday hit Apple with an antitrust charge, alleging it has created a “closed system” for contactless mobile payments. The so-called statement of objections says the iPhone maker has abused its market power by favoring its Apple Pay for mobile contactless payments to the detriment of third-party services like PayPal, which reportedly helped initiate the charges. The European Commission says it has reason to believe Apple withheld access to its NFC inputs in order to suppress other mobile-wallet app developers from competing with Apple Pay, which the Commission called “a closed ecosystem.” Continue reading EU Hits Apple with Antitrust Objections Over Mobile Payments

Google launched a pilot for Hands Free, a mobile wallet application that allows a buyer to use her phone for purchases without taking it out of her purse. The pilot, conducted in the southern San Francisco Bay area, is available in a few stores and designated McDonald’s and Papa John’s locations. The cashier’s system can detect the user’s phone; to close the transaction, the user asks to pay with Google and gives her initials to the cashier. The cashier can also detect if the user is the same person in the Google profile. Continue reading Google Launches Pilot Program for Hands-Free Mobile Wallet

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 recently announced it has partnered with dozens of new companies interested in adopting its Apple Pay e-commerce product, which allows customers to make in-store transactions with a touch of their iPhones. Partnerships with various retail stores, startups, and financial institutions represent the early adopters of Apple’s new product. Apple Pay has already outperformed other rival smartphone e-commerce products from Google, Verizon and AT&T.  Continue reading Apple Pay Gains Momentum, Partners with More Companies

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?