San Francisco: Ramping up a new challenge to Apple in mobile payments, Google on Thursday unveiled its pay-with-a-phone system for Android device at the Google developers conference in San Francisco.
Google launched its revolutionary concept Android Pay through which it offers the smartphone users to use their handsets instead of payment cards by bringing together mobile carriers, payment networks, banks and retailers.
"We are at the start of an exciting journey, we are working closely with payment networks, banks and developers," said the Google engineering vice president Dave Burke ascertaining that Android Pay would work in more than 700,000 US retail outlets that accept contactless payments.
Similar to the Apple Pay system unveiled last year, Android Pay will allow consumers to store credit card information on their handsets along with loyalty cards and other data.
A one-timevirtual account number/’token’ would also be generated by it as part of the extra security.
"Users can simply and safely use their Android phone to pay in stores where you see an Android Pay logo," Burke said, while adding that Android Pay will be “focused on simplicity, security and choice."
No date was announced for the roll-out of Android Pay but the Google statement said it would be "available on Google Play for download soon."
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