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Apple delays mobile wallet despite industry competition

July 10, 2012

One of the leading technology companies in the world has been slower than industry competitors when it comes to mobile credit card processing systems.

One of the leading technology companies in the world has been slower than industry competitors when it comes to mobile credit card processing systems.

The Wall Street Journal recently looked at reasons why Apple has been less active in the mobile payment market compared to firms such as Microsoft and Google, both of which have either unveiled a new system or have announced plans to do so. The news source reports that the California-based firm, started by Steve Jobs and Steve Wozniak decades ago, is deliberately delaying its entry into the digital payment sector. Part of the reason for the delay is so that it can see where other brands have issues and unveil a superior product of its own.

“Apple is always a comfortable number two,” says Piper Jaffray analyst Gene Munster. They let their competitors do their market research for them.”

There have been some struggles recently with mobile payment products that is likely giving Apple pause. The Verge reports that users of Google Wallets on HTC Evo have experienced technical difficulty due to a glitch in the technology.

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