LONDON: Google is reportedly planning a mobile payment service named as Android Pay. However, it is expected that the service will be launched later this years.
A source close to Ars Technica said the company is working on the service, and will make an official announcement at its I/O developer conference this year. The soon to be launched service, according to the report, will create a way for companies to accept transactions through their apps without having to introduce their own individual payment platforms.
Users will be able to add their credit or debit card information, which will allow payments to become a single-tap transaction within the app. Also, companies who adopt the Android Pay will be able to allow “tap-to-pay transactions in brick-and-mortar stores.” This service will however, not replace Google’s other payment service, the Wallet. It will reply on the Google’s Host Card Emulation (HCE), which makes it stress-free for third-party apps to make use of Android phones’ “Near Field Communications (NFC) chips.
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