Alternative Payment Solution: Android Pay
Android Pay is a mobile payment solution launched by Google in September 2015, as an extension to the Google Wallet. The solution is accepted at more than 2.5 Million retail outlets globally, and supports all major payment networks, including American Express, MasterCard, Visa, and Diners Club. It is supported by more than 650 banks and credit unions in the US, including major banks such as American Express, Bank of America, Capital One, Chase, Citi, HSBC, UBS, and Wells Fargo.
At present, the solution is available in 10 markets: the US, the UK, Singapore, Australia, Hong Kong, Belgium, Ireland, Japan, New Zealand, and Poland – with plans to expand further into other European countries and Canada. The solution works with all NFC-enabled Android mobile phones running Android 4.4 KitKat or later, and watches running Android Wear 2.0. In addition to in-store payments, Android Pay offers in-app payments and also supports cash withdrawals at ATMs.
Users can store details of multiple debit, credit, and store cards on Android Pay, which can be used to make payments at merchant outlets. In addition, Android Pay has collaborated with banks including Bank of America, USAA, Bank of New Zealand, Discover, and mBank to integrate the solution into these banks’ own mobile apps.
In May 2016, Android Pay expanded into online payments, allowing users to shop at participating websites on the Google Chrome browser using an Android phone. To expand its online payment services, in October 2016 Android Pay partnered with Visa and MasterCard, allowing users to make payments at hundreds of online merchants that accept payments through Visa Checkout and MasterPass.
The report Alternative Payment Solution: Android Pay provides information and insights into alternative payment solution Android Pay, including -
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