Google has taken the wraps off Android Pay, the company's new mobile payment system designed to essentially be a user-friendly version of Google Wallet.
In fact, the new system is so user friendly that it will see users able to walk into a store, say they want to pay with Google, and never have to touch their phone or wallet.
Google Wallet itself wasn't mentioned at the Google I/O developers conference on May 28 where Google unveiled Android Pay. The payment system, which actually wasn't too bad in terms of its functionality, failed to gain traction among consumers in the same way that Apple Pay did. Many suggest that the system simply arrived too early and that consumers were not yet ready to adopt mobile payments.
Google's new payment app will both allow users to pay for items, and will allow users to transfer money to their friends.
Of course, the app isn't exactly the same as Google Wallet, and will feature a number of key improvements. The first is a tokenization system that will essentially remove the need for any credit card information to be shared with merchants. Not only that, but Google has also introduced a fingerprint scanner in Android M, it's new mobile OS. Together these features will greatly improve the security of Android Pay over Google Wallet in a way that is user-friendly. Simply putting your finger on the display of the phone is a far easier way to authenticate your identity compared with having to remember passwords and PIN numbers.
As is the case with any form of payment, there is always the chance that the user could lose their phone. However, unlike when a user loses a credit card,
It's important to mention that the system will only be available on NFC-capable phones, although most phones that are able to update to Android M should be NFC-capable. As time goes on this number is sure to increase.
Another reason that Android Pay will be able to gain more traction than Google Wallet is the fact that Google has been able to get a lot of banks and mobile carriers on board to support the system.
It's also important to note that Android Pay will not entirely replace Google Wallet. It will be able to carry out small transactions and purchases in-stores, but many use Google Wallet for things like paying rent and to actually hold a balance - Android Pay will not do this.
Android Pay is set to become a real winner for Google as users start to shift their attitudes about mobile payments. Only time will tell if it can beat out Apple Pay. It certainly has a good chance considering how many owners of Android devices there are.
