As Digital Payments Grow in the U.S., Banks and Tech Companies Are Forging Partnerships

Everyone wants a piece of the mobile market

Last week, PayPal, the payments platform, announced plans to sponsor three sports teams—the Phoenix Suns, Phoenix Mercury and the Spanish soccer team Real Club Deportivo Mallorca—as part of a broader plan to overhaul three stadiums with mobile payment systems. The promise, according to Phoenix Suns CEO Jason Rowley, is “to create the most efficient and seamless experience as possible.” That could mean less time in line buying a jersey or ordering a hot dog without taking out your wallet.

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This story first appeared in the October 8, 2018, issue of Adweek magazine. Click here to subscribe.