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Mobile payment market is up for grabs among companies pushing services

Consumers are showing more interest in mobile payments and wallets, and the market is currently up for grabs

By Michael Hatamoto from Feb 28, 2015 @ 6:40 CST

The development and adoption stage of mobile payments is still relatively new, and it's anyone's game for companies putting effort into the market, according to a new Harris Poll.

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At least four in five smartphone owners in the US are familiar with some type of mobile payment offering - and one in three have embraced a solution. Apple Pay has driven interest, nurturing a booming ecosystem being utilized by banks, retailers, and a growing number of iPhone owners.

"Consumers are clearly ready for mobile payments," said Kathryn Koegel, chief of insights and communications at Steampunkt Collaborative, in a statement published by USA Today. "People are using their phones to conduct research, get discounts and deals, compare prices, find elusive items and navigate around stores. We are only a short step away from completing that circle by finishing the actual transaction with a mobile wallet."

NEWS SOURCES:Americasmarkets.usatoday.com, Kiplinger.com

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