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(Image: ThinkStock)
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Price War

New entrants are taking aim at the revenue conventional payment companies hold dear. LevelUp doesn't charge for payments, Groupon and Square are promoting new pricing options, and more prepaid cards offer free ATM access. (Image: ShutterStock)
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New Money

Even cash itself is under attack. Ambitious new currencies like Bitcoin, or narrowly focused virtual currencies like Facebook Credits and World of Warcraft gold, are forcing financial institutions to consider new roles. (Image: ShutterStock)
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Wal-Mart Stores Inc. signage is displayed outside of a location in American Canyon, California, U.S., on Thursday, Feb. 16, 2012. Wal-Mart Stores Inc. is scheduled to release fourth-quarter earnings on Feb. 21. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg

Mega Merchants

The Merchant Customer Exchange, a new payment system being designed by retailers, is just the tip of the iceberg. Major merchants such as Walmart are also challenging some of the payments industry's hard-fought victories, such as the recently proposed multi-billion dollar settlement over interchange pricing. (Image: Bloomberg News)
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A customer buys new Apple Inc. iPhone 5 devices at a store in San Francisco, California, U.S., on Friday, Sept. 21, 2012. Apple Inc. is poised for a record iPhone 5 debut and may not be able to keep up with demand as customers lined up in Sydney, Tokyo, Paris and New York to pick up the latest model of its top-selling product. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg

Taking a Pass

Many of the mobile wallets backed by large companies are built around phones designed with Near Field Communication chips for payment, but Apple seems to regard NFC as an optional ingredient. Its Passbook, which is less focused on payments, already has strong supporters like Starbucks and Amex. (Image: Bloomberg News)
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Jack Dorsey, co-founder of Twitter Inc. and chief executive officer of Square Inc., speaks during a television interview in New York, U.S., on Monday, Oct. 25, 2010. Square's mobile-payment technology allows smartphone users to make credit card payments and the availability of funding for new ventures. Photographer: Jin Lee/Bloomberg *** Local Caption *** Jack Dorsey
Jin Lee/Bloomberg

Squaring Off

Square's mobile card reader is a hit among smaller merchants, but it is less successful with larger ones. As it swims upstream, Square faces fierce competition from the likes of PayPal, VeriFone and even Groupon. Pictured: Square CEO Jack Dorsey (Image: Bloomberg News)
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A man walks in front of a Google headquarters sign in Mountain View, California, Thursday, October 20, 2005. Photographer: Kimberly White/Bloomberg News
KIMBERLY WHITE/Bloomberg News

Security Split

Mobile wallets are supposed to have stronger security, but a few early entrants, such as Google and Square, have faced harsh criticism for perceived and actual security flaws. Will consumers shun these new payment methods, or will they forgive their security snafus? (Image: Bloomberg News)
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high angle view of a young woman receiving a package from a delivery man
George Doyle/Getty Images

ISOs Under Attack

As new payment systems emerge, so do new distribution models. Groupon and Fiserv are both choosing to distribute their new payment readers without the help of independent sales organizations. (Image: ThinkStock)

Retailers Law and regulation Technology Payment processing Cards Credit
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