Oct 19, 2018 | Updated: 04:34 PM EDT

Introducing The All New Google Pay

Sep 13, 2015 11:06 PM EDT


Google has announced recently its Android Pay through their official blog spot. "We'll be rolling out gradually over the next few days, and this is just the beginning," as stated on their blog. Replacing its old version of mobile payment wallet, Android Pay is a simpler and quicker contactless payment service provider compared with Google wallet. The company boasts user's ability "to pay with your Android phone at over one million locations across the U.S." and promises to "continue to add even more features, banks and store locations in the coming months, making it even easier to pay with your Android phone." 

Compatibility. All near-field communication (NFC)-enabled Android devices (running KitKat 4.4+) are compatible with Android Pay. "If you're an existing Google Wallet user, you'll be able to access Android Pay through an update to your Wallet app. For new users, Android Pay will be available for download on Google Play in the next few days, and will come preinstalled on new NFC-enabled Android phones from AT&T, T-Mobile and Verizon Wireless," as stated in Android Official Blog.

Credit and debit cards from four major networks, namely, American Express, Discover, Mastercard, and Visa, issued by popular banks and credit unions, including American Express, Bank of America, Discover, Navy Federal Credit Union, PNC, Regions Bank, USAA and U.S. Bank can now be added to Android Pay. Coming in the next few days are Capital One and Wells Fargo.

Availability. The app will be accepted in every tap and pay locations in the U.S. Among the exciting long list of available stores are perhaps some of our favorites like Macy's, Staples, Aeropostale, American Eagle Outfitters, Coca-Cola, Pepsi, and Subway.

Security. In case of breach of security, Google is supported by industry standard tokenization where credit and debit cards data are not sent with payment, instead random values are assigned to disable unauthorized people to access sensitive information from the token.

"Like Apple Pay, it relies on an industry-standard approach called 'tokenization.' After you enter a card into Android Pay, the app generates a unique code called a token. Each card has its own token and each token is specific to each Android. When you make a purchase with Android Pay, this token is used to create yet another temporary token to complete a purchase," notes The Wall Street Journal.

Also, for every transaction made, a payment confirmation will be sent. In case of stolen or lost phones, the app can be automatically secured through Android Device Manager.

More thrills. Google will soon incorporate loyalty cards and special offers in select stores. As per The Harris Poll, recouping of in-store offers via smartphone apps has been used by over 30% of adult Americans.

Furthermore, Google will soon activate in-app payments aside from in-store purchases.

IDC reports that in the second quarter of 2015, Android is topping the smartphone market charts with a share of around 82.8 percent. In fact, in terms of mobile OS, it is the only growing shares compared with its competitors iOS, Windows Phone and Blackberry. With this compelling number, Android Pay will surely boost the use of mobile payments.

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