The march towards making mobile payments part of our normal lives continues at a slow pace. Given expense of the required infrastructure updates, it is not surprising. But the good news for the end user is that things are continuing to improve and move forward.
Both Google and Samsung have announced new / improved mobile payment systems, unimaginatively called Android Pay and Samsung Pay. At Google’s I/O conference the other week, the company detailed their new Android Pay platform, superseding Google Wallet for most mobile payments. While Google Wallet requires a virtual debit card which is refilled, Android Pay works similarly to Apple Pay; Google has worked with credit card issuers to allow the cards to be loaded onto the device and then charges are made anonymously with a tokenized card number. Android Pay is expected to launch this Fall with the Android M update. Having Apple and Google utilize a similar system is great news for the consumer as it will likely push the adoption of NFC terminals at retailers.
Samsung announced their Samsung Pay system this Spring as part of the Galaxy S6 unveiling.Continue reading