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Google Debuts Mobile Payment System Android Pay

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In an answer to Apple Inc's ( AAPL ) popular Apple Pay, rival tech giant Google Inc ( GOOG , GOOGL ) has unveiled a revamped mobile-payment service in the United States. Dubbed Android Pay (clever, I know), this service will work very similarly to Apple Pay. The only difference, it seems, is that Android Pay works on Android Phones instead of iPhones.

In some Samsung ( SSNLF ) phones-the S6, S6 Edge, S6 Edge Plus, and the Note 5-Andriod Pay will operate alongside the company's Samsung Pay.

These mobile payment services allow consumers to buy goods at retail stores by tapping their smartphones against the store's payment terminals; a credit or debit card on file within the application then gets charged.

Google's first attempt in the mobile payment trend was the failed Google Wallet. A limited network of compatible devices and wireless carriers wanting to work with the service caused the effort to collapse. In order to revamp it, Google purchased much of another failed mobile payment service, called Softcard, and used its technology in combination with its own to create Android Pay.

Android Pay will begin rolling out on Thursday. Users can download the application from the Android app store; it also comes pre-installed on new, compatible phones from carriers AT&T ( T ), T-Mobile, and Verizon ( VZ ). Android phones need a near field communication (NFC) chip and at least the KitKat version of the Android OS to use Android Pay.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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