Google unveiled its next generation mobile payments yesterday at its annual developer conference, Google I/O, with Android Pay. Android Pay, very much like Google Wallet, allows users to use their smartphone to make payments.
The change is an effort by Google to reclaim its momentum in the area of mobile payments, where Apple Pay has been fast taking hold and other rivals like Samsung’s LoopPay are emerging. Android Pay will be incorporated into the next version of Android, currently known as Android M. The service will also work with previous versions of Android as far back as Android 4.4 KitKat.
Google is currently working with credit card companies including Discover, Visa, MasterCard and American Express, and with carriers like T-Mobile, AT&T and Verizon, so users can use Android Pay right away when they leave the store.
As for Google Wallet, it will be moving into a different direction. It will remain as an app for users to send or request money to anyone in the U.S. with an email account through Gmail.