Since the company launched Wallet in 2011, the service hasn't quite taken off, but it passed a major hurdle recently it when acquired assets from Softcard, a mobile payments company backed by Verizon, AT&T, and T-Mobile. Now, when you buy a new Android phone from any of the major US carriers, that phone will have the Google Wallet app pre-installed. It would also potentially mean offline purchasing data for Google that it could use to better target its online ads (a key distinction between Google Wallet and Apple or Samsung Pay is that Google "sees" every transaction that a user makes). Google wants Android Pay to become a successful platform because it would be a simple way for the billion people who use Android phones to pay for things - Pichai called out China and India as places where he hopes to see developers build "innovative services" with Android Pay. "Apart from this key distinction between the two payment products, Samsung Pay largely has the same product attributes as Apple Pay," according to Evan Bakker, research associate for BI Intelligence.Īpple Pay launched in October and Samsung Pay will launch this summer, but both rely on shoppers using their fingerprint to authenticate purchases and neither Apple nor Samsung will have any access to information about what users bought or how much they paid. ![]() retailers already have magnetic strip readers, more will automatically be able to accept Samsung Pay (the company says that 30 million merchant locations globally already have the potential to work with Samsung Pay). However, Samsung's phones will work with NFC technology but also standard magnetic credit card readers, thanks to its recent acquisition of LoopPay. Samsung Pay will also only work with the company's latest phone, the S6. Over 200,000 retailers support Apple Pay, but not every retailers' sales system supports NFC. ![]() ![]() It often indicates a user profile.Īpple Pay only works on the company's latest iPhones in retailers with near-field communication (NFC) technology. Account icon An icon in the shape of a person's head and shoulders.
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