Android pay is a digital wallet by Google. On similar line of Apple Pay except for the fact that it uses cloud computing rather than phone’s secure chips. It uses NFC (Near Field Communication) for funds transfers and other card information.
Generally it uses fingerprint IDs to access information but on phones without fingerprint detection it simply uses a password.
Android Pay was launched in 2015 and can be considered as an extension of Google Wallet (2011)
It also has a loyalty program which rewards the users with points on selected purchases e.g. Walgreens and Coke.
Google has come with APIs for developers and can easily be plugged into retailer’s websites or apps. Offline retailers just need to get a contactless-enabled terminal and with easy registration it becomes ready to go.
If the device is lost or stolen, users can remotely login using their credentials and lock them from anywhere.
The data is never shared with any third party rather it maps another 16-digit account number to the user’s data and uses that for all transactions.
Major Banks and even Rural Banks in US and UK have already started accepting Android Pay but with Apple pay and Samsung Pay already holding strong ties with major banks, Android pay has a long and tough road ahead. With all these options available the user is the winner making it easier and easier to pay. It’s time to leave the wallet at home and enjoy lighter travels.