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When Apple launched its Apple Pay mobile payment service more than two years ago, it hoped to speed up the checkout process and, ultimately, to replace physical wallets for US consumers. Apple Pay has made significant headway, but consumer’s wariness reflects a range of factors that analysts say have caused growth to undershoot their expectations, [...]

The post Apple Pay mobile payment adoption rates poor… and slowing appeared first on Payments Cards & Mobile.

China UnionPay, China’s largest payment and clearing network, joined with more than 20 lenders to introduce Quick Pass, a new mobile payment service, in a bid to win back market share from third-party payment leader Alibaba Group’s Alipay affiliate. Using NFC (near-field communication) technology, UnionPay’s service lets users pay for purchases by tapping their smartphones [...]

The post China UnionPay launch Quick Pass mobile payment service appeared first on Payments Cards & Mobile.