Whether its Apple Pay or Google Pay, the real battle will be to keep users locked into ever-growing payments ecosystems.
Doing so will help the tech giants can capture more of the fees and information now being given up to banks and fintech startups.
The move is likely just the first for these tech giants as they take a "land and expand" strategy, and future products like Google co-branded credit cards or Apple checking accounts are all possible, du Toit said. But regulators have woken to the risks in terms of data security posed by the expansion of tech giants into new frontiers. In fact, Google's partnership with the second biggest U.S. health systemIt's also part of a larger global battle that is coming: Asian tech giants like Alibaba and Tencent have already become juggernauts in payments thanks to their mobile apps. Mobility players like Grab in Southeast Asia and Uber in the U.S.
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