Slideshow 8 Wallets Changed by Apple Pay's Debut

  • October 31 2014, 11:10am EDT
9 Images Total

Apple Pay is still new to the scene, but it's already forced a number of other online and mobile wallets to change course. Some are rethinking their technology, while others are trying to find the best way to build on the buzz Apple created. (Image: Bloomberg News)

Merchant Customer Exchange's CurrentC

The launch of Apple Pay is testing the loyalties of the Merchant Customer Exchange's constituents. Some sided with MCX by shutting off Apple Pay, a move that is forced MCX to be more outspoken about its contractual terms. MCX may also begin supporting NFC, the same contactless payment technology Apple Pay uses. (Image: Bloomberg News)

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Google Wallet

The MCX merchants that shut off Apple Pay took Google Wallet, Softcard and even contactless plastic cards offline with it. But Google is slowly adapting, and issued an update to Google Wallet that adds alerts and other features to keep its users engaged. (Image: Bloomberg News)


MasterCard sees Apple Pay as a launching point for tokenization, a security method that protects account data by substituting a limited-use token when making payments. Now that the technology is part of Apple Pay, MasterCard plans to adapt it for its own MasterPass digital wallet.


At the merchants that still support multiple NFC wallets, Softcard is getting a boost from Apple Pay's debut. For example, the training that McDonald's put in place to encourage Apple Pay use at the drive thru also benefits Softcard — the telcos' mobile wallet is even explicitly promoted in McDonald's marketing. Softcard also plans to work with the iPhone 6's built-in NFC chip.

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It's not clear what kind of "marriage" Alibaba founder Jack Ma has in mind for his company's Alipay affiliate and Apple Pay. But one possible partnership could see Alipay become a funding mechanism within Apple Pay, giving the Chinese company a strong foundation in the U.S. (Image: Bloomberg News)


SCVNGR's LevelUp was fast to get on board with Apple Pay, despite offering a competing wallet. The company already uses Apple's iBeacon technology, and plans to integrate directly into Apple's Passbook, making the LevelUp wallet a payment option alongside bank-issued payment cards.


PayPal, which competes directly with Apple Pay, has long avoided using NFC for contactless payments. But PayPal has already said it will start supporting NFC if Apple Pay creates enough consumer interest. (Image: Bloomberg News)

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BBVA and other banks

Apple Pay forces banks to develop their own mobile wallets, according to BBVA's Jon Groch. BBVA plans to port its Android card app to iOS to entice consumers to pick its card to pay. "If we didn't have this mobile wallet … customers wouldn't even know what wallet they're using when they use Apple Pay," he said. (Image: Bloomberg News)