Google and Apple said to give its mobile payment services an overhaul

Google is said to announce a new mobile payment service at the I/O conference scheduled on 28 an 29 May. Now a new report from New York Times states that the search giant will launch Android Pay and revamp Google Wallet with different featuers.

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As per the report, Android Pay will let sellers accept credit card payments from inside of their own apps. The service will integrate with retailer loyalty programs as a result of support retail locations, allowing merchants to accept credit card payments from their mobile apps. Android Pay may be used at physical stores, added the report.

Earlier in February it was reported that Google is working on mobile payment service called as ‘Plaso’ that allow users to make payments from your Android phone by simply saying your initials at the payment counter. In the same month, Google acquired mobile payment company Softcard. It is said that Android Pay service will be kept different from the Google Wallet which will come to Android as well as iOS. Google Wallet will be relaunched as a peer-to-peer payments app that consumers can use to send money to each other directly from their debit accounts

In case of Apple Pay, it is reported that the company is working on including a rewards program for the service. The latest move from the two tech giants shows the potential of the mobile payments market.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+