U.S. Bank has been trying to get iPhones to make contactless payments for a long time, but most of its efforts didn't pan out. The launch of Apple Pay and the rapid advancement of mobile technology may breathe some new life into the bank's old ideas.

The Fed's hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments.

Credit unions make up a substantial number of the financial institutions that have enrolled with Apple Pay, and some unofficial lists suggest the majority of early uptake is coming from credit unions.

Online art marketplace Etsy is offering a mobile card reader, Sell on Etsy Reader, to its sellers for free, allowing them to transact in-person.

Bank of America was quick to address an early issue with double-charging Apple Pay users, but the damage to consumers' perception of mobile payment technology may prove to be longer-lasting if more glitches occur.

Yapital Financial, of Luxembourg, is partnering with Goodgame Studios to handle sales of virtual goods.

Shopkick has launched its mobile commerce and rewards service in Germany with a group of the country's largest merchants.

The movement to develop a faster U.S. payment system has a new, influential convert.

PHOENIX – Rather than simply support Apple Pay, banks need to go a step further to develop their own mobile wallets that interact with merchants for rewards and offers.

Scattered reports of double payments and failed transactions have begun to bubble to the surface after what initially looked like a relatively smooth introduction of Apple Pay.

PHOENIX – There are two possible outcomes of the push for mobile payments: it could succeed, like Canada's rollout of chip and PIN; or it could fizzle, like its push for contactless cards.

PHOENIX – Even though Apple has more than 500 banks lined up to support Apple Pay, including heavyweights like Bank of America and JPMorgan Chase, some bank executives are taking a decidedly defensive stance.

MasterCard is determined to take its tokenization technology for Apple Pay and spread the security method to many other payment products, including the card brand's own MasterPass digital wallet.

PHOENIX – BBVA has had success in several markets with mobile wallets that blend Near Field Communication (NFC), loyalty and other technologies. But this week's launch of Apple Pay is challenging the bank to ensure its card app remains relevant.

MasterCard is partnering with Major League Baseball Advanced Media to bring contactless payment acceptance to ballpark food and beverage concessions at this year's World Series.

A few hours into Apple Pay's Oct. 20 launch, Apple CEO Tim Cook promised the company was not looking to exploit its payments data.

Westpac has launched a new product that allows customers to make payments with any type of mobile device.

Apple Pay is a watershed moment that will do more to stimulate mobile commerce than the sum of all previous efforts. But it also has an impact on branding that should make it part of a broader mobile menu for banks and retailers.

The Chicago Transit Authority approved the free Ventra Android and iOS app this week, but riders won't be able to use the app for tap-and-go payments with Near Field Communication-enabled smartphones until early 2016.

As Apple Pay launches Oct. 20, the new mobile wallet will be put to the test. It has the prestige of Apple and the participation of hundreds of card issuers, but it also faces several challenges that may be difficult to overcome.