January 26, 2015
The buzz about mobile transactions began when Apple introduced Apple Pay in the fall and assembled major players in its ecosystem. With great fanfare, Apple Pay announced it was working with retailers from Office Depot to RadioShack and Walgreens. Apple Pay allows for in-app payment for brands like Groupon, OpenTable, Target and Uber.
Apple has also partnered with American Express, Master Card and Visa, and banks like Bank of America, Capital One, Chase, Citi and Wells Fargo. In fact, Chase announced that Apple Pay could be used at more than 220,000 retail stores.
Imagine paying your bills by pressing your finger against a Touch ID fingerprint scanner. After initially entering credit...