At the Google I/O 2015 event, Google announced the a new payment platform for Android – the Android Pay which will take on Apple Pay and also Samsung Pay in some form. It could also be said to be a repackaged Google Wallet.
The new Android Pay API would be available to developers to incorporate payments into their Android apps and consumers would be able to make payments at Physical stores through NFC or via in app purchases. For purchasing in app, once you tap the ‘Buy with Android Pay’, the rest is taken care of.
To make payments in stores, all you need do is unlock the device and place it near the merchant’s contactless terminal and that is done. It also applies loyalty programmes and offers for consumers when payments is about to be made.
Google is also partnering with Banks and payment networks to keep financial and personal information safe, this would see Android Pay support industry standard security tokenisation. Instead of Credit Card and Debit Card information being accessed rather a Virtual account number is used to make payments.
The mobile payment service can be used in over 700,000 stores in the US including Best Buy, Pepsi, Coca-Cola, macy’s, McDonanld’s, Sunway and is available in around 1000 Android apps such as UBER, Etsy, grubhub, Eat 24 and lyft. Android Pay would work on Android devices with NFC and runs nothing less than Android Kitkat OS or much more newer versions.
The app would be available for download on Google Play Store soon; also it can be activated directly from the Bank app and also new smartphones from Verizon, T-Mobile and AT&T will come with Android Pay pre-loaded. The payment system is expected to go official alongside Android M when it is finally released this year.
