With Apple Pay, Google Wallet
and CurrentC there is no physical card to lose but, depending on the application and method, some applications might be able to see the card number and transaction information.
has partnered with MasterCard so that users can use their physical Google Wallet
card anywhere that debit MasterCard is accepted.
o 91 percent are satisfied with Google Wallet
, while 89 percent are satisfied with the peer-to-peer payment platform offered by their banks.
Users with Google Wallet
installed on their devices will receive an update that allows them to transform the Google Wallet
app into Android Pay.
This percentage is more than three times higher than the 10% who say they use PayPal every time or almost every time and 16 times higher than the 2% who say they have the same usage pattern for their Google Wallet
At its core, Pay is similar to Google Wallet
, which was released in 2011.
For this to work, Google Wallet
requires Near Field Communication (NFC) technology.
From Paypal and Google Wallet
to Facebook's recent announcement that it would start a free payment service, the technologically savvy alternatives to banks that are popping up are starting to eat at the traditional giants' bottom lines.
Theoretically, it should work at any NFC-enabled pay point, although it has been reported that CVS and RiteAid have blocked both Apple Pay and Google Wallet
in favor of a merchant mobile wallet product in development known as CurrentC(mcx.com).
Apple Pay works automatically when your phone is held up to the checkout terminal, with no need to open an app as you must to use Google Wallet
agreed to pre-install Google Wallet
later this year.
Industry experts also see it as a move by Samsung to counter rival handset maker Apple's recently-launched Apple Pay mobile payments service as well as Android developer Google's Google Wallet