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

Everyone wants a piece of the mobile market

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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.”

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

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