Android Pay isn't a new concept, at least not in Google's eyes as they've been working on it for some time now and they officially announced the existence and coming of Android Pay back in March. At the time they hadn't mentioned when Android users would be able to expect to see the new service go live on devices, but there is a strong prediction from analysts that Google has plans to discuss Android Pay as well as unveil it at the annual Google I/O developer conference tomorrow. Should this end up being the case, the keynote is where we'd be hearing about it which starts at 9:30AM PST May 28th.
While Android Pay's launch is still unconfirmed, a new report from the New York Times gives out some previously unknown details about the service. According to the post, Google is all prepared to go over the changes to its Google Wallet mobile payment system as well as discuss plans for Android Pay at the event. These details come from unnamed sources say the New York Times due to the details being confidential so for now these are still just rumors, but for those interested in Android Pay the general basis of what it will offer is a way for merchants to accept mobile payments from customer through their mobile apps, as well as provide a way for those merchants to integrate loyalty programs, loyalty cards and rewards cards. In addition to merchants accepting payments from customers through their mobile apps, it will also allow customers to make payments at the cash register inside stores at the POS systems, a function that is likely powered by the technology behind SoftCard, Google's recent mobile payments system purchase from earlier in the year. It's also stated that customers can gain loyalty points (likely to be used towards other purchases) when they make purchases at participating stores with Android pay as their preferred payment method as opposed to traditional credit and debit cards.
The talks on mobile payments are also said to include a revamp of the Google Wallet app and service, with Google having plans to rebrand the app as a peer-to-peer payment application making it easy for users to send money back and forth between them. Google Wallet already allows people to send money between users, with those funds coming directly out of whatever cards or accounts they have attached to the app, so this function is nothing new. This new approach to Google Wallet will likely be a refocus to present it as just a peer-to-peer payment system only, where now it currently also acts as Google's mobile payment solution.