Google introduced its new mobile wallet, dubbed Android Pay, Thursday at the Google I/O developers conference in San Francisco. Much like Apple Pay, Google’s new product will use near-field communication (NFC) to allow users to make purchases at the point-of-sale.
Also like Apple Pay, Android Pay does not transmit card information with the payment. Instead, a one-time token is transferred, offering users a layer of security.
This is Google’s second attempt at tackling the mobile market. The technology giant clearly hopes this one fares better than its previous effort, Google Wallet.
Google said it expects Android Pay to be accepted at more than 700,000 retail locations. Though no date was given for Android Pay’s rollout, Google said it would be available on Google Play soon.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.