As 2013 comes to a close, the race between companies offering Digital Wallet apps and services has never been more uncertain. Though there are a few clear leaders at the front of the pack, we are all very aware how quickly someone can come to the forefront with a revolutionary idea that blows the competition out of the water. But until something like that happens, we figured it would be nice to take a look the “big three” when it comes to companies offering digital wallet services and apps heading into 2014.Google Wallet
Google is one of the largest companies in the world, and is certainly a juggernaut when it comes to apps, software, and anything else that is plugged in. From their search engine to owning their own popular operating system in Android, Google is poised to take over anything it chooses to touch in the blink of an eye. Google Wallet has been around for a few years now, but some major changes in 2013 pushed them to one of the top spot on the leader board for this new emerging market.
Square was once only known for their famous Square Register app that replaced the physical POS systems that retailers have relied on for years with modern versions run entirely on an iPad. However, they dipped their feet into the water with Square Wallet in the early months of 2013, and they ended up making a huge splash. With so much success and knowledge in the mobile payment industry, 2014 is sure to hold some great things for Square Wallet and the company in general.
The PayPal App
Though this app has only recently developed its presence in the fall of 2013, PayPal’s huge database of users has propelled it to the forefront of digital wallet apps. They have a very long track record of keeping their customer’s financial data safe, and almost everyone one earth already has an account with them. This makes them a prime choice for success going into 2014 because many people are not interested in signing up for yet another service when they already have their bank account synced with their PayPal account and use it daily with their eBay account.
Regardless which app you use personally, it’s easy to see that 2014 will be a very competitive year for digital wallets. Though there is no way to know who will emerge as the industry leader when all the dust settles, each company is sure to contribute some unique ideas and features to the industry that will ultimately make the concept of using a digital wallet much better for all users worldwide.