Mo­bile Tap-and-pay Starts to Take Off

Bloomberg Businessweek (North America) - - Technology -

U.S. con­sumers spent about $8.7 bil­lion in check­out lines last year us­ing their phones, es­ti­mates re­searcher Emar­keter. Re­tail­ers and banks are push­ing out their own pay­ment apps to cut swipe fees, get valu­able data on peo­ple’s buy­ing habits, or both. “Ev­ery one of the top 11 is­suers of credit and debit cards by the end of next year will have their own ver­sion of Pay,” says Richard Crone, chief ex­ec­u­tive of­fi­cer of Crone Con­sult­ing. “Same for re­tail­ers.” Here’s the cur­rent state of play. � Olga Kharif

22m shop­pers use Wal­mart’s app

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