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What open APIs will mean for the future of mobile payments

It’s safe to say by this point that the launch of the Pay platforms, like Apple Pay, Samsung Pay and so on, haven’t exactly set the world alight.

Usage numbers remain difficult to come by, always a telling sign, and while growth may be slow and steady, it’s not the death knell for banks in the payments industry that so many expected and warned us about. Understandably many are now starting to wonder if the revolution is dead on arrival or simply on pause.

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See also: Contactless payments just got easier in Singapore

The exceptions to this are of course the merchant led initiatives, like the ubiquitous Starbucks app, and similar offerings from companies like Dunkin Donuts, and Walmart Pay. That’s fine and good for very large scale brands who have the customer reach to gain that crucial real estate on a mobile device, but where does that leave the rest of the market? Perhaps more importantly, the limited success of dedicated mobile payment apps run the risk of making card issuing banks and indeed a lot of merchants complacent in their positioning as kings of the payments pile.

Perhaps more importantly,

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