Submission + - Google Teams up With 3 Wireless Carriers to Combat Apple Pay
The biggest challenge however is one that both Apple and Google face: Only a small fraction of the 10 million or store retail outlets in the U.S.–220,000 at last count–have checkout readers that can accept payments from either system. Both wallets both use a radio technology called Near Field Communication to send payment, and it’s expected to take years for most stores to be upgraded. What’s at play? The big tech companies and carriers seem convinced that our phones will eventually replace our wallets. For carriers, that could make mobile wallet technology table stakes over the next few years as they compete for consumers.