Turn Your Phone into Your Digital Wallet

By Kim Komando

According to one research firm, mobile smartphone payments will grow by a factor of four and account for $1.3 trillion of all retail transactions by the year 2017.

That’s a lot of electronic money flying around!

And that’s exactly why Google and Apple are scrambling to claim their slices of the mobile payment pie.

The search giant took the early lead in the race when it launched Google Wallet a year ago. Apple just got going with Passbook, which debuted in iOS 6.

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