How Apple Can Make Mobile Wallets Actually Work

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When Apple introduces its highly anticipated system for making in-store payments with an iPhone next week, the tech giant will be following a familiar pattern: let the first movers flail with the earliest versions of some product or service, then release a more polished version of the same idea. The mobile wallet in 2014 is a lot like the MP3 player in early 2001, just before the launch of the iPod, or the smartphones available in 2006 ahead of the first iPhone. The tools now exist for fully functional mobile wallets, just not in a way that has won over the shopping masses.

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