Tag: google mobile payments

Google plans to ramp up its mobile payments endeavors

| June 2, 2015

Google will overhaul its Wallet service and launch Android Pay in the near future

The battle for mobile payments supremacy is heating up, and Google plans to launch a new service that will establish it as a leader. The company plans to overhaul its troubled Wallet platform, which has struggled to gain traction among consumers in recent years. Google has plans to launch a new service called Android Pay, which will allow merchants to accept payments from credit cards as well as mobile applications.

Android Pay aims to make physical mobile payments possible in stores

Android Pay is designed to be a standalone mobile payments solution and will not replace Google Wallet. The Wallet application will receive special attention, making it more attractive to consumers that are interested in mobile payments. The app is being re-designed as a peer-to-peer platform, which will also allow consumers to send money to one another. They will still be able to use the platform to make payments to merchants that accept Google Wallet, of course.

Demand for mobile payment support in physical stores is rising quickly

Google - Mobile PaymentsAndroid Pay may become Google’s more favored mobile payments solution, as it is designed with brick-and-mortar stores in mind. Demand for mobile payment support in physical stores is on the rise, and companies like Google want to accommodate this demand by providing new services that make these payments more convenient. In this way, Android Pay will perform in much the same way that other mobile payments platforms do.

Google will face tough competition in the mobile payments space

Though Google has ambitious plans for mobile payments, the company will be faced with intense competition coming from others. Samsung is one of these companies. Later this year, Samsung plans to launch its own mobile payments service, called Samsung Pay. This service will provide consumers with a way to make purchases in physical stores using their mobile devices. Apple also plans to improve its own mobile payments service, introducing a loyalty program and making improvements to its already considerable security features.

Apple and Google press on in their fight for mobile payments supremacy

| June 1, 2015

Companies are making adjustments to how they approach mobile payments

Both Apple and Google are pushing further into the mobile payments space, hoping to establish a strong foothold there in and embrace a dominating position in the market. To do so, both companies are changing the way they approach the mobile payments space, making their services more attractive and robust for those that are interested in mobile shopping. Competition in this market is fierce, however, so both companies will have to work harder to engage consumers effectively.

Wallet is becoming a peer-to-peer payments solution

Google is preparing to unveil its plans for its troubled Wallet platform. Google Wallet allows users to participate in mobile payments, but the service has struggled to find traction with consumers for some time. Wallet was launched in 2011 and experienced a security problem shortly after its launch. The service had also been based on NFC technology, which limited its appeal to consumers due to the rarity of NFC-enabled devices at the time. Google has been working to overhaul the Wallet platform in order to make it more accommodating to consumers and merchants interested in mobile payments.

Improvements to Apple Pay may make it more attractive to consumers

Mobile Payments Battle - Google and AppleAs Wallet is being redesigned to be a peer-to-peer payment app, Apple is also planning on enhancing its own payment service, called Apple Pay. It is expected that Apple will introduce a loyalty rewards program in the coming months, which will reward those using the service regularly. Other enhancements include improved security features and functionality. Such improvements could increase the attractiveness of Apple Pay.

Apple and Google have to work to catch up with the competition that exists in the mobile payments market

Apple and Google entered into the mobile payments space somewhat later than other companies. This places them at a modest disadvantage as consumers have had time to get comfortable with other mobile payments platforms. By enhancing their platforms, Google and Apple may begin to generate more momentum  in this market and become prominent players on the mobile payments battlefield.