Apple Pay vs. CurrentC: The battle for the US mobile wallet

In September 2014, Apple announced the Apple Pay mobile payment service, which would allow consumers to pay for goods wirelessly in shops using their new iPhones. This represented a further movement of the technology into the mainstream. However, attempts have been made by MCX, a consortium of retailers, to topple Apple in the US mobile payment market with its own alternative, CurrentC.

Scope

  • Assesses the strategic and commercial objective of both Apple Pay and CurrentC.
  • Identifies the key aspects of Google, Samsung and PayPal's operations in the mobile payment sector.

Reasons to buy

Why has Apple decided to enter the mobile payments sector with Apple Pay?

Why has CurrentC made such a storm in the press since its announcement?

Will Apple Pay or CurrentC be able to kill the other system off in order to become the mobile payment system of choice?

Do the operations of Google, Samsung and PayPal pose a threat to either Apple Pay or CurrentC?

Companies mentioned

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Table of Contents

OVERVIEW

Catalyst

Summary

APPLE PAY MAKING MOBILE PAYMENTS MAINSTREAM

Apple Pay announced alongside new iPhones, proves popular

Apple Pay aims to ensure security and privacy ...

OVERVIEW

Catalyst

Summary

APPLE PAY MAKING MOBILE PAYMENTS MAINSTREAM

Apple Pay announced alongside new iPhones, proves popular

Apple Pay aims to ensure security and privacy

NFC technology potentially limiting in the US

Apple Pay expands the appeal of the wider Apple ecosystem

Apple has the backing of leading US financial institutions and retailers

CURRENTC CHALLENGING FOR MOBILE PAYMENT DOMINANCE

CurrentC was created by retailers for retailers

Coupons and loyalty programs aid retailers in CRM big data analytics

Payment system allows retailers to dodge transaction fees

CurrentC technology not advanced but supports widespread availability

MCX partners have disabled NFC in stores

CurrentC security and brand image impacted by data breach

OTHER KEY COMPETITORS IN MOBILE PAYMENTS

Android Pay is Google's second bite at the apple

Samsung Pay compatible with existing point-of-sale terminals

PayPal also active in mobile payments

Consolidation a key trend in mobile payments

Google acquisition of Softcard technology removes barrier to market

Samsung's acquisition of LoopPay gave it key technology

PayPal acquires Paydiant to boost mobile wallet scale

CONCLUSIONS

Apple Pay has momentum, but rival services will benefit from tailwinds

APPENDIX

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