Google gearing up to launch an Apple Pay rival at I/O

Google is planning to overhaul its mobile payment system this May during its I/O developer conference. Ars reports that the Mountain View-based company will be launching a new payments API called Android Pay at the event, which would facilitate in-store (physical retailers) and in-app purchases. It will begin appearing on all the new phones by major US carriers in coming months, the report adds.

The development comes days after Google purchased some technology from SoftCard, a joint venture between AT&T, T-Mobile and Verizon in the mobile payment space. The feature will work on Host Card Emulation, a method to present phone to an NFC terminal as a clone of the card.

 

There’s your problem, @lenovo. pic.twitter.com/H4uIstGnoe

— Jonathan Zdziarski (@JZdziarski) February 25, 2015

The report further sheds light on company’s development in this direction. According to which, Google isn’t planning to ditch Google Wallet, its existing mobile payment system that allows its users to store debit cards, credit cards, loyalty cards etc on their mobile phones.

Interestingly, SoftCard has updated its FAQ page on the website to note that the company is terminating its Windows Phone app. The app was launched on the Windows Phone Store last year to enable contactless payments in select stores and restaurants. With SoftCard abandoning the project, Windows Phone now lacks an NFC-enabled payment app.

IMPORT:-BGRindia