Google is relaunching its Google Pay digital wallet and online payment system for Android and iOS with a raft of new features including the ability to connect to the user’s bank account for a searchable overview of finances. The company also plans to partner with banks in 2021 to offer its Plex, an online checking and savings account within the app. This more fully-featured Google Pay can now serve as a direct competitor to Apple Pay, Samsung Pay, PayPal, Venmo and other apps and services, as well as an online bank such as Ally. Continue reading Google Launches New Google Pay, Readies Banking Service

In the latest quarter, Apple’s profit and revenue have ticked upward, but the company is experiencing problems with its iPhone, whose sales dropped 1 percent from the previous year to 50.8 million phones. The dip in sales is attributed to customers waiting for the 10-year anniversary phone, due in the fall, and weakness in China. Despite the slump, sales of the iPhone 7 were somewhat strong, pushing total revenue up 4.6 percent to $52.90 billion. In contrast to the iPhone, Apple Pay transactions and Apple Watch sales soared. Continue reading Apple iPhone Sales Dip While Apple Pay, Apple Watch Soar

To succeed in countries where large percentages of the population do not have bank accounts, Amazon is launching Amazon Cash, a new service that allows users to add cash to their Amazon accounts without incurring fees. Otherwise, to make cash purchases, such customers would have to buy an Amazon Gift Card or purchase a prepaid card. To access Amazon Cash between $15 and $500, the user requests a barcode, accessed through Amazon’s website mobile app or via text message, which is presented to a participating retailer. Continue reading Amazon Cash for Those Without Credit Cards, Bank Accounts

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