Rivals likely to reach for Google's 'Wallet'

With the announcement of "Google Wallet" the Internet giant became the first player to dash into a future where people use smartphones as credit cards, but rivals are expected to cut its lead short.

China grants Alibaba payment system license

(AP) -- An online payment system founded by Chinese e-commerce giant Alibaba Group was granted a government license, the company said Thursday, following an ownership change that rattled investors in partner Yahoo Inc.

Google turning smartphones into wallets: source

Google on Thursday will launch a mobile payment platform that lets people use smartphones to pay at shops as easily as they use a credit card, according to a source familiar with the matter.

American Express makes digital wallets

American Express on Monday launched an online financial transactions service that it claims goes beyond what others provide in a market dominated by PayPal.

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