European Retail Correspondent, Zurich
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Retailers push into crowded mobile payment market

BERLIN (Reuters) – Big retailers are muscling in on the likes of Visa, MasterCard and Google in a fiercely competitive and growing mobile payment market that promises to cut transaction costs and increase customer loyalty.

Stores such as British supermarket Tesco and France’s Auchan hope their “digital wallets” – apps which allow users to pay with their smartphones rather than cash or cards – will also give them more comprehensive data about customers’ shopping habits than ever before so they can target advertising.