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Short-Term Impact of Apple Phone on Payments Questioned

While the mobile wallet Apple is expected to launch next week could have many of the crucial elements already in place, its potentially significant impact is not likely to be felt until next year.  Apple’s long-rumored mobile payments offering could be revealed at an event the company is holding on Sept. 9. Recent reports suggest that the announcement will include key partnerships with Visa, MasterCard, American Express, banks and retailers, positioning Apple’s wallet to quickly pose competition to PayPal, Google Wallet and other mobile wallets. 

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