12 Notable New Entrants in Payments & Commerce in 2014

The payments and commerce sector witnessed a number of prominent product launches this year. These product launches have taken place across multiple facets of the payments and commerce domain but they are contributing to the growth of the entire ecosystem. Here is a compilation of the notable product launches this year witnessed:

Apple Pay

The tech giant finally launched its contactless mobile payments system on October 20th. Apple Pay brought the power of tokenization, NFC, biometric sensor to bring a seamless way of making payments. Apple Pay has already gained a sizeable traction in the US market. Since its launch, Apple Pay has acquired partnerships with 30+ banks, 50+ merchants and numerous other stakeholders in the payments ecosystem. Apple Pay is adding more transaction numbers at an accelerated pace to its record. Whole Foods had cited that Apple Pay had already accounted for 1% of its transactions in 17 days since its launch. McDonalds witnessed 50% of its tap-and-pay transactions coming from Apple Pay since its adoption by the QSR giant. Apple Pay has given a booster dose to NFC payments. Apple Pay is currently in the phase of expanding into new geographies.

Square’s EMV Card Reader

Square had launched a new reader especially designed for chip based cards on November 12th. The re ...

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