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Are consumers drinking the Kool-Aid related to mobile payments?

Anyone use mobile payments?
By: Michael Hatamoto | Mobile Devices, Tablets & Phones News | Posted: Jun 17, 2015 3:20 pm

Consumers have a growing number of ways to pay at checkout that don't include using cash, debit or credit cards - but trying to actually get people to switch to mobile payments is proving difficult. It's possible to use a smartphone or smartwatch wearable to make payments, with the likes of Apple Pay, Android Pay, and other options.




Apple has recently announced new features of its Apple Pay service, while Google has big ambitions for Android Pay, designed to be the successor to Google Wallet. Earlier in the year, Samsung purchased LoopPay, and is expected to take a more aggressive approach to the mobile payment sector.


"I've been paying for a while with my phone," said Larry Page, CEO of Google, while speaking during a shareholder meeting. "First time you pay with a phone, and you don't have to pull out your card, mess with entering codes and signing things and so on, it's a pretty great experience."


If nothing else, the appeal of mobile payments has made some banks nervous, and they want to make sure they are ready to support increasingly mobile customers.


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