7 Inventive Apple Pay Alternatives
Published February 23, 2015 11:18 AM
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Updated June 1, 2021 1:20 PM
1 Min Read
Apple Pay's contactless payment model may be straightforward and simple, but it's not the only way to move funds without cards and cash. Many companies are coming up with alternatives that work from phones, smartwatches and other devices. (Image: Bloomberg News)
LoopPay, which Samsung is buying, simulates a magstripe signal when held near a standard point of sale terminal. The merchant does not need to make any changes, but the consumer might need to buy special hardware unless Samsung builds LoopPay's tech directly into its devices. (Image: Bloomberg News)
PayPal's cloud-based wallet has the benefit of being applicable to any wireless device - whether it's a smartphone or a smartwatch. PayPal has emphasized this point by supporting nearly every major smartwatch platform including Samsung, Android and Pebble.
Google Glass, in its current form, may have been scrapped, but many tech companies, banks and retailers experimented with the headset. Systems like 'Nod to Pay' let shoppers pay with gestures; Tesco's system operates more like a mobile commerce site that can be used hands-free. (Image: Bloomberg News)
Barclaycard is pushing the boundaries of which accessories can be used for mobile payments. Its wearables include gloves, bracelets and even a saddle for a donkey.
Payment-capable wristbands are nothing new, but companies like MasterCard and RBC are trying to one-up the Apple Watch by adding biometric authentication. (Pictured: Nymi band)
When Google debuted Android Wear, it showed off a new mobile payment option based on alerts. The Eat24 smartwatch app remembers when the wearer last ordered food, and offers to order - and pay for - the same meal at the same time the following week. (Image: Bloomberg News)
Starbucks and Square are separately developing ways to handle orders ahead of a person's visit to a store. Starbucks also uses Apple Pay as a funding method within its own app, getting the best of both worlds. (Image: Bloomberg News)
