Google relaunches Google Wallet as Android Pay to compete with Apple Pay.
Google today announced Android Pay at the Google I/O 2015 developer conference. Google says Android Pay is the simple and secure way to pay with your Android phone. Google already offered Google Wallet and is now relaunching the mobile payment service as Android Pay to compete better with Apple Pay. Where iSamsung Pay is going to fit in there going forward remains to be seen.
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With Android Pay users can simply unlock their phone like they normally do, place it near a merchant’s contactless terminal, and they’re good to go. Android Pay does all the heavy lifting. Users don’t need to open an app, it's just tap and go like with Apple Pay. Users also see a payment confirmation and get transaction details right on your phone.
Also, with select retailers, the loyalty programs and special offers will be automatically applied at checkout. For example, when a user taps to buy a Coke at a vending machine, the MyCokeRewards will be automatically applied. With Android Pay the contactless terminal not only receives your payment info, but also the consumer's loyalty programs and offers.
Buy with Android Pay will also work with online stores.
Android Pay will soon be accepted at over 700,000 store locations from popular brands across the US, and in over 1000 Android apps.
Android Pay will be available on Google Play for download soon. With bank integrations, consumers will also be able to activate Android Pay directly from their bank app.
Google did not specify a specific launch date for Google Pay. The only advantage of integrating reward programs will soon be matched by Apple Pay. Apple is rumored to announce this Apple Pay enhancement at the WWDC 2015 on June 8.