Read the Chapter 4 opening case, "A Battle Emerging in Mobile Payments" (textbook, pp. 67-70). As well, search the Web for the latest news about mobile payments and how they are gaining momentum in the digital economy.

1. What are the key factors that differentiate the different mobile payment systems? (5 marks)

2. Apple joined the mobile payments game late but is now considered the most important player in the retail field. Applying the framework proposed by Suarez (2004), what are the most important factors that helped Apple Pay achieve dominance? Are these factors sustainable, and are they likely to lead to further dominance for Apple Pay? (10 marks)