Apple Pay Leaps Ahead of Providers of Mobile-Payments Apps
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Apple Inc. introduced new iPhones featuring digital credit cards, leaping ahead of mobile-payment providers that have been working for years to make wallets obsolete.
Apple Pay, a feature unveiled yesterday alongside a fresh crop of gadgets from the Cupertino, California-based company, uses sensors to let people pay for goods and services by swiping their smartphones. Apple forged alliances with Visa Inc., MasterCard Inc. and American Express Co. to boost the use of mobile devices for shopping.