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.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
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