This contactless payment trend has the potential to dramatically change how consumers behave in purchase situations--but that's only a potential outcome. Currently, mobile payments do not yet have the most compelling reasons to change consumer behavior, even though mobile banking is very popular.
Here are some of the latest developments as mobile payments inch along:
- Android Pay will now be accepted for purchases on websites and for ATM transactions.
- FitBit is planning to include payment functionality on future fitness tracking products.
- Apple Pay is expanding in Canada with the acceptance by major banks there.
- Samsung Pay is widely accepted among US retailers and is partnering with Alibaba for the Chinese market.
- Walmart has introduced its payment app in Texas.