Apple Pay, NFC services face competitors that could disrupt payment processing

Apple reached a milestone recently when it became the world’s first trillion-dollar company. It helped that, during its more than 40-year history, it has introduced some incredible innovations and products, most cannily directed at and designed for the enduser. But a fairly recent one, Apple Pay, also took aim at the retail and commercial markets. Now, nearly four years after its introduction, Apple Pay has competitors including Samsung Pay, Android Pay, PayPal, Square, Walmart Pay and bank mobile apps from Chase, Wells Fargo, Bank of America, Simple and others. LevelUp and Verifone SAIL are other types of mobile payment services involving scanning a QR code, and that’s not an exhaustive list.