Apple is hoping that Apple Pay, a tap-to-pay service integrated into the iPhone 6 and Apple Watch, will help it dominate the $79.2 billion-a-year digital payments market. But can Apple succeed where so many have failed before, and truly replace our wallets with our phones?

With the release of Apple's iOS 8 in September 2014, Touch ID - the fingerprint sensor functionality on iPhone 5 and 6 - is coming to the forefront. As well as adding an extra layer of security, some brands are seeing the sensor as an opportunity to enhance m-commerce.

With smartphone adoption rising across the developed world, the global race is on to figure out what exactly the 'mobile wallet' does – and how it can improve customer experience. McDonald's is rolling out mobile payments across the whole of France.

As part of its Uncarrier repositioning, T-Mobile is launching into the banking business with a pre-paid debit card and banking app. But if people aren't willing to trust banks with their cash, why should they trust a telecoms provider?