Google Inc (GOOGL) To Build Mobile Payment API In Its Android System


Google Inc (NASDAQ:GOOGL) is set to join the list of other firms in providing mobile payment API in its Android operating system. The company disclosed its intention to establish fresh payments API enabling developers to amalgamate the service, which is known as Android Pay, into their apps. It must have been waiting in the wings, though on a different route, after Apple Inc. (NASDAQ:AAPL) launched Apple Pay in October.

Backseat Development

During the Mobile World Congress, Google Inc (NASDAQ:GOOGL)’s SVP, Sundar Pichai, indicated that Android Pay would use account number tokenization, apart from working with biometric authentication and NFC. Initially, it seemed to be an Apple Pay mash-up of functionality, enabling consumers to pay for goods and services.

However, the company appears to be going through the backseat to developing the payments proposal, rather than relying on merchants to execute it. It remains to be seen as to how the system would work, particularly with multiple apps, apart from in-store transactions. Aside from this, the extent of data that the company intends to collect also remained unclear.

Google Inc (NASDAQ:GOOGL)’s Android Pay is said to be placed ambiguously on the mobile payments ecosystem. The company disclosed an alliance to package Google Wallet on America’s carriers’ gadgets earlier this month. At the same time, it bought Softcard program technology.

Availability

The company is yet to provide more details about its planned Android Pay. There was no word from the search engine giant as far as the availability of Android Pay was concerned. The current expectation is that its next version of Android should have the payment processing apps. The preview of the next Android version would likely be during the company’s annual developer meeting in May.

Typically, Google Inc (NASDAQ:GOOGL)’s new Android versions were released during the fall season to the public. Significantly, Samsung, which uses Android OS in its smartphones, has also indicated recently that it would be launching Samsung Pay to take on Apple Inc. (NASDAQ:AAPL).

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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