In what is being seen as an attempt to revive its mobile payment system – Google Wallet, the search engine giant is set to unveil a new service called Android Pay at Google I/O. Expected to be launched today, Android Pay lets retailers accept card payment through mobile apps and tie customers in to loyalty programs.
According to reports, Apple is planning to tie merchants in to similar loyalty programs next month that let customers gather points and perks.
A lot of mobile apps and services have made peer-to-peer payment aspect quite popular, and Google is hoping to cash in on the trend by repackaging Google Wallet as Android Pay.
If you look at Google Wallet’s current features, it has peer-to-peer payment support, NFC payment support, loyalty/gift card wallet etc. So basically, everything that Android Pay is going to be. With help of Google’s marketing might, it will not be surprising to see Android Pay taking the Play Store by a storm in the near future.
Source: Android and Me