M-Payments Roundup: PayPal, Apple Pay, Square (Nov. 25, 2014)
The recent launch of the Apple Pay wallet app on the latest iterations of iPhone handsets has created a flurry of activity among m-payments providers trying to attract as many consumers as they can to their solutions. PayPal announced last week its app is available on Pebble smartwatch, enabling consumers to use the technology-infused timepiece to check in, order and pay at retailers, restaurants and other local merchants accepting PayPal. Pebble owners also can receive payment notifications on the watch. The Pebble watch is the result of a Kickstarter crowd-funding campaign launched in 2012, the watch was released in 2013, and the Pebble app store debuted in February of this year. The PayPal app also is available on Android Wear devices and Samsung’s Gear 2, Gear S and Gear Fit. Apple is expected to launch its Apple Watch in early 2015, and the company this month is rolling out the Watchkit, a software development kit for developers to create apps for the device.
Meanwhile, Jack Dorsey, founder of social media app Twitter and Square, a developer of mobile card readers, has said Square will begin accepting Apple Pay in 2015. Although many observers would consider the two companies competitors, Dorsey has a different take, telling CNN, “We’re not building a credit card. We’re not building a payment device. We’re building a [cash] register, and this register accepts all … forms of payments.” Square’s hardware will have to be modified to be compatible with Apple Pay, according to the report.
To recruit users of Google Wallet, the search engine giant announced earlier this month that it was giving away $5 account credits to Google Wallet users who sent money—as little as a penny—to friends who didn’t have a wallet balance. The promotion was scheduled to run until the end of November or the first 20,000 referrals. The promotion could be deemed a success as the promotion ended after Google reached its referral limit, according to a company spokesperson.
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