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It launched a white-label BNPL solution for mobile shoppers last month dubbed SplititExpress, which supports both Apple Pay and Google Pay. It's also expanded its installments as a service offering with partners like OCM, Ingenico, SAP, and Google.

That鈥檚 why PayPal, Venmo, Cash App, Apple Pay, Google Pay, and Samsung Pay are quickly introducing novel features鈥攐r quickly copying ones from competitors. The pace of commerce management feature innovation is reaching a frenzy. Six months ago, we identified four emerging features that digital wallets could add to centralize purchasing within consumers鈥� wallets of choice:.

Apple could sell advertisers on its purchase data from Apple Pay. 鈥淎nyone who has access to first-party purchase data has to be thinking through how they can monetize and productize that data,鈥� said Marzano. Financial service companies must consider what services they have to offer, what鈥檚 unique about their data, and how they can show value to advertisers.

BNPL loans can be accessed at the point-of-sale (online or in-person), usually via a BNPL loan provider's branded app, via a merchant鈥檚 website or app, or via proximity mobile payment apps like Apple Pay and Google Pay. Examples include Affirm, Afterpay, Klarna, Zip, and PayPal鈥檚 BNPL service. Some short-term, no-interest loans can be accessed only at retailers. Examples include Bread Pay and SetPay.

It also does not yet connect to digital wallets like Apple Pay and its 48.7 million US users or Google Pay鈥檚 26.4 million US users. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily. Are you a client? Click here to subscribe.

The news: Synchrony may develop its own digital wallet鈥攖hough for now, it鈥檚 content with allowing its digital cards to be accessed via third-party wallets like Apple Pay, Google Pay, and Samsung Wallet, Synchrony chief growth officer Mike Bopp told Payments Dive. Bopp said that many customers still opt for Synchrony鈥檚 physical cards but the firm is seeing customers 鈥渟egueing to digital.鈥�.

Online retailers need to respond to Gen Z鈥檚 love of Apple Pay. Mobile wallets are used most at in-person events. Smart carts, mobile checkout, and biometric data could solve retail鈥檚 in-store point-of-sale challenges.

Some 48.7% of US consumers aged 18 to 34 have used PayPal and 34.5% have used Apple Pay to make a recent purchase, per our April 2024 Ecommerce Survey. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

TikTok Shop鈥檚 in-app experience includes secure and integrated payment options like Apple Pay for seamless checkout. Additionally, TikTok鈥檚 expansion into fulfillment services aims to improve delivery speeds. TikTok鈥檚 holiday promotions will give livestream sales a boost.

The report theorizes that Millennials and Gen Zers can鈥檛 tell a checking account from a payment tool because they鈥檙e used to paying with merchant apps, Apple Pay, PayPal, Klarna, and Venmo.

The bigger picture: Affirm, along with the rest of the BNPL industry, faces a multitude of challenges that has impeded growth鈥� cooler discretionary spend, regulatory scrutiny, and competitive threats like Apple Pay Later. To withstand these hurdles, many BNPL providers鈥攊ncluding Affirm鈥攁re restructuring. Affirm laid off 19% of its staff in Q3 and shut down its cryptocurrency business.

So I'm going to be boring, I'm afraid, and I'm going to go with Apple Pay. According to finder.com, it's already the most popular mobile payment service in the UK with around 69% of those who've used mobile payments in the previous year opting for Apple Pay. That's ahead of PayPal, which was at 31%, and Google Pay, which was at 27%.

But leading wallets like Apple Pay, PayPal, and Chinese super app Alipay are winning over consumers through education on how they work and the limited amount of data they use, as well as through incentives like loyalty bonuses and mobile ID initiatives. The demographics: Younger and higher-income Canadians are driving mobile wallet growth.

I also used Apple Pay and I think my payment info is, or my address is already stored in Apple Pay, so I didn't have to enter anything, just the two clicks. That was certainly easy and I think that helps to assuage a lot of the concerns that consumers have about social commerce and not wanting to share their payment information with these social platforms.

Global wallets like Apple Pay, Google Pay, and PayPal have a sizable presence in the region, but local players like JumiaPay, MTN Moto, and STC Pay are gaining prominence in their respective markets. Network International provides an opportunity for CVC Capital Partners and Francisco Partners to extract value from this growing market.

Half (51.3%) of UK adults use PayPal to pay online, while 24.0% use Apple Pay and 16.0% use buy now, pay later (BNPL) services, per our survey with Toluna. AI is speeding up service and product discovery鈥攂ut consumers remain cautious.

It had 50.8 million Apple Pay users in 2022, versus 46 million consumer and SMB customers who were mobile active at JPMorgan Chase. It鈥檚 already encroaching on Gen Z mindshare. When Gen Zers were asked which providers they鈥檇 consider for their banking products and services, Apple tied for second place with 鈥渕y current primary bank and credit union.鈥� (PayPal was the most cited provider.).

To overcome account opening headwinds, credit card marketers can explore credit card subscriptions, net worth data collection, and wallet-first cardholder experiences.

I've said before that Apple Pay being adopted for the New York City subway was what got to adopt Apple Pay. It's that one thing that makes it easier that then becomes second nature everywhere. One thing that might stop Just Walk Out from being adopted everywhere is that the Scan and Go at Sam's Club has the ads opportunity, which is another revenue source, which Just Walk Out does not have.

Digital wallets such as PayPal, Apple Pay, Samsung Pay, and Google Pay have made paying by mobile easier and more secure. People are spending more time on their smartphones. In 2023, the average UK adult will spend over three hours a day on their smartphone, per our forecast. That鈥檚 up from 2 hours and 18 minutes (2:18) in 2019. To view the time spent with smartphones forecast, click here.

Is it Apple Pay? Is it Venmo? Google Wallet? Which one is Paze going to steal this 2% from? David Morris:. I think it's going to be the device-agnostic wallets. Marcus Johnson:. Okay. David Morris:. PayPal, for instance.

Gen Zers are flocking to emerging payment methods, but card-based options, led by debit cards, remain supreme. Payment providers must align offerings with Gen Z鈥檚 preferences now as their spending power grows.

Powered by cloud-based APIs, modern card issuing leapfrogs traditional issuer processing to help non-financial services companies launch and customize card programs. Here鈥檚 where their offerings will be most disruptive.

Yeah, the thing jumped out to me, Apple Pay users so far out in front, nearly 60 million Apple Pay users. And second place is Starbucks mobile app and Google Pay with about 35 million each. So way, way, behind. And then Samsung Yay even further behind with about 14 million folks using that. Story two, how many folks are generative AI users?