UnionPay is bringing its mobile QuickPass platform to Canada, enabling a slew of merchants to accept its contactless payments without requiring a customer’s signature or PIN number, adding yet another major competitor to the digital payments space.
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CVS Health is joining the slew of marketers rolling out their own mobile payments services with the introduction of CVS Pay, an in-application feature that enables customers to pay for items, pick up prescriptions and collect loyalty points using a single bar code.
Following two successful pilots that exceeded expectations, American Food and Vending is adding smartphone payment acceptance to vending machines in 35 cities, reflecting consumers’ growing reliance on mobile payments.
Samsung Pay has teamed up with Ziosk to enable smartphone-to-tablet payments for diners at Red Robin Gourmet Burgers and Brews, Friendly’s and Uno Pizzeria & Grill locations, adding a new layer of convenience to the growing area of tabletop devices in casual restaurants.
PayPal’s Venmo is now a major competitor in mobile payments with the launch of its checkout service on retail applications that features innovative sharing capabilities and follows a successful year marked by 140 percent growth.
Ice cream shop chain Baskin-Robbins is borrowing from sister company Dunkin’ Donuts with a new application that loads virtual, reloadable cards for completing purchases.
Mobile wallets are slowly gaining adoption, but retailers’ offerings are currently the winners because they can be easily integrated with loyalty programs, providing an incentive to use them.
Fifth Third Bank is enabling its Android customers to seamlessly make purchases within mobile applications, in stores and online by taking advantage of its Masterpass integration, highlighting the need for financial institutions to roll out digital payments services accessible for a wide array of smartphone users.
Visa and PayPal have thrown a twist into the race for mobile payments domination by entering into a strategic partnership that will broaden consumers’ ability to pay via PayPal and Venmo and improve security, indicating the importance of collaborations in this competitive space.
Mastercard has acquired British payment-technology provider VocaLink, following a string of innovations for its Masterpass mobile payment service, in a bid to even out adoption of the technology in all markets and become a top contender in the crowded space.