Slideshow The Secrets to Mobile Wallets' Success

Published
  • September 04 2016, 2:11pm EDT
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History is filled with the stories of failed mobile wallets. The few that survive today have found a way to set themselves apart.

Apple Pay

Apple Pay is the only contactless payment option on iPhones and iPads, but it stands out as more than being the only game in town. It was the first third-party wallet to gain widespread support from major banks and credit unions.

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Android Pay

Android Pay isn't Google's first attempt at a mobile wallet, and that works to its advantage. The app removes the clutter of the earlier Google Wallet, giving Android owners a straightforward payment experience.

Samsung Pay

Unlike Apple Pay and Android Pay, Samsung Pay doesn't require merchants to actively support it. Samsung handsets can create a wireless signal that tricks older payment terminals into thinking the shopper has swiped a plastic card.

Walmart Pay

Walmart Pay isn't a standalone wallet; it exists within the bigger Walmart app, which has a large following. In this way, Walmart caters to the most mobile-savvy shoppers without asking them to significantly change their behavior.

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Starbucks

The Starbucks app has been around since 2009, but its roots go back even longer. It builds on the massive success of the Starbucks gift card, which is one of the most popular holiday gifts in the U.S.

Chase Pay

Chase Pay is the result of years of work between JPMorgan Chase, Visa and the merchant community. It's built on the company's closed-loop ChaseNet system, which streamlines the payment process when Chase has both the consumer and the merchant relationship.

PayPal One Touch

PayPal Venmo app, which is used for P-to-P payments, has a strong following among Millennials. PayPal used this technology as the foundation of a separate mobile commerce system called One Touch.