The mobile payments space is finally starting to heat up in the United States now that Apple’s contactless payment solution is almost ready for primetime, but it will still be years before Apple Pay even comes close to being able to replace your wallet. While the sleek solution allows iPhone users to pay for goods online and in a handful of stores, the majority of retail establishments we visit will not support Apple Pay at launch. And what about scannable rewards cards or getting cash at an ATM? Even years from now, there will still be limitations that Apple Pay doesn’t overcome, and there will still be plenty of establishments that don’t accept Apple Pay or other similar services.
There is a gap between now and several years down the road when mobile payment solutions are truly ubiquitous, and Palo Alto-based startup Plastc might be the company to fill that gap.
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