Tech companies from Seattle to Silicon Valley, intent on transforming how we shop, have set their sights on the electronic payments industry.
Microsoft is building a digital wallet into its next generation of mobile phones. Apple is moving into loyalty cards, and Google has set its sights on payments. The online payment service PayPal is also pushing into traditional retail stores.
But if you expect this to mean that merchants and consumers will save money on transactions, don’t hold your breath.
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