Google’s payment platform is going to be in the spotlight soon because according to a report, Google will launch Android Pay at their I/O event this May. This will simplify purchases made in the Play Store, or those in-app payments that have been bugging you for so long.
Android Pay is an interesting new feature that comes as a response to Google’s competition. Apple and Samsung are both working on implementing similar platforms, so it’s only natural that Google steps in. Basically, this is an API which allows developers to add a new payment feature to their product involving credit card information and whatnot. This basically simplifies the task of purchasing something to the point where one tap is enough to get the money out of your wallet. This new API can also be used in actual stores by the use of NFC chips and Google’s Host Card Emulation, this means that you can basically just scan your phone at the cash register and be done with your purchase, without scanning your credit card or entering a PIN or anything like that. It’s a simple system which aims at centralizing the way we make payments.
But wait, does this all sound a little similar to you? Because Google Wallet also has something similar called “Instant Buy API”, which is pretty simple, allowing you to pay by pressing a button. It’s not too different, but Android Pay is basically being built from zero. Android Pay should be interesting to see in action, because ever since Apple launched its own payment platform, companies and retailers have been trying to implement it for a while now, with some success. After the first month of Apple Pay it was reported that it accounted for about 1.6% of all transactions at the five biggest retailers in the US. We’d love to hear what you think about a new Apple Pay competitor entering the market, so feel free to leave a comment below. For instance, what do you think of the latest goings-on with Google, Wallet and Android Pay? Let us know.