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Apple, Google, Samsung and others betting on mobile payments

Sharon Goldman | Feb. 25, 2016
While it’s not clear yet which of the many mobile payment systems currently available today will be around for the long haul, there’s no doubt that paying for goods and services with your phone will quickly replace traditional credit cards and cash.

For now, retailers will have to cater to multiple mobile payment options. “They can’t just accept Apple Pay, they have to offer Apple, Android and a couple of others,” says Rana. “Consumers will dictate some of these choices, and merchants may get some incentives.” 

As for the major players, they recognize the need to get in — and stay in. “Customers are trying these mobile payments options,” Chase’s Robert’s adds. “If you’re not out in the space, you’re losing the opportunity to see how customers are behaving and to capture that spend.”


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