Mobile Shopping

Mobile Payments Heating Up

This week Google announced that they’re working on a mobile payments API called Android Pay.  Add that to Google’s existing mobile payments product Google Wallet, as well as Apple Pay, the soon to be launched Samsung Pay, and PayPal’s new mobile acquisition, and you’d be forgiven for feeling a little confused.

A recent article on Business Insider gave a concise overview of the difference between the services from Apple, Samsung and Android.  In a nutshell, both Apple and Samsung’s solutions are mobile apps designed to enable payments in physical stores The new Android Pay on the other hand, is a platform on which developers can build both in-app AND in-store payment capability for any app that runs on Android.  So Google Wallet, for example, will run on Android Pay.

Google, Apple and Samsung’s services all use NFC technology to turn a smartphone into a virtual credit card, whereas Samsung has announced that they will also support magnetic credit card readers when they launches this year, extending their reach to support retailers who don’t have NFC at the point of sale.   The other big global player in mobile payments is Paypal who just announced that they’ve acquired mobile wallet maker Paydiant.

It’s going to be a big year in mobile payments.


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