Apple Pay debuted this week to much fanfare, but it's not the only mobile payment platform in town. Competitor CurrentC is collecting retail partners and positioning itself as a formidable competitor, thanks in large part to its biggest partner: Walmart.
After the eBay and PayPal split in 2015, industry observers believe PayPal is going to be even more vulnerable to competition from Apple Pay, Amazon, Stripe, Square and other mobile retail payment systems.
Apple's new Apple Pay is expected to give other mobile payment methods a run for their money and boost overall security of mobile payments, attracting more shoppers to the technology.
Walmart announced it will roll out GoBank checking accounts in all stores by the end of October. GoBank checking accounts, launched by Green Dot, are mobile banking platforms linked with MasterCard debit cards that do not charge overdraft fees, minimum balance fees or monthly fees.
Since Apple announced the launch of virtual payment platform Apple Pay Sept. 9, brands have already signed on to use it, but Walmart wasn't interested in the new payment platform.
As mobile devices and digital currency play an ever-increasing role in retail, the Merchant Customer Exchange has unveiled a new mobile wallet called CurrentC, which already has the backing of big-box retailers such as Walmart, Target and Best Buy.
Macy's is hopping on the digital wallet bandwagon. The retailer said in an Aug. 26 announcement that shoppers would be able to use the new option to manage special offers and make in-store and online payments.
Real estate software company Yardi announced the launch of a new service for clients as it partners with Home Depot to offer more purchasing options and full purchasing control for customers.
The National Retail Federation has asked the U.S. Supreme Court to review a ruling that left the Federal Reserve's cap on credit card transactions at 21 cents. The retail industry has collectively pushed for a lower cap for so-called swipe fees.
Shipments of self-checkout systems rang up record numbers in 2013, driven in part by Walmart's increased use of the systems.