NFC Times Exclusive Insight – Google announced its much-anticipated response to Apple Pay, with an updated host-card-emulation-based payments platform, Android Pay, that will incorporate tokenization, fingerprint biometrics and in-app payments, in addition to in-store tapping to pay.
Unlike Apple Pay, which requires consumers to use Apple’s Passbook wallet, the new Android Pay platform–in addition to Google’s own Android Pay app–will enable banks to implement payments right out of their own branded mobile-banking or mobile-payments apps. Banks could already launch HCE-based payments on devices running Android 4.4 or above, but Android Pay will offer a much more standardized approach, with tie-ins with major U.S. payments networks, processors and banks.