Mobile payment revolution: who’s winning?

Apple, Google, and Samsung are emerging as the leading providers of mobile payment systems, as the number of transactions using mobile platforms is expected to skyrocket from $235 billion in 2014 to $1 trillion by 2019.

Apple Pay, Samsung Pay, and Android Pay rely on the near field communication (NFC) protocol for mobile transactions, which are completed when a terminal register connects to a mobile device. Apple Pay and Samsung Pay transactions are secured with a token ring while Android Pay relies on host card emulation (HCE) for payment security.

Phoenix Marketing International says that Apple Pay continues to be the number-one choice by consumers,” according to a report. “In the past year, 74 per cent of Apple Pay users have added multiple cards to the application and 64 per cent of those users intend to add more, raising the adoption rate of Apple Pay in the U.S. by 18 per cent in the last year."