Google could introduce the Android Pay API at its upcoming event in May
Google is preparing to make another move in the mobile payments sector. The company recently announced that it had acquired Softcard, a mobile commerce firm, which could help its struggling Wallet platform find some traction with consumers. The company is now expected to introduce a new mobile payments API at its annual Google I/O event at the end of May. The API is called Android Pay, and may have a major impact on Google’s position in the mobile commerce space.
Android Pay API would help developers incorporate mobile payments in their apps
The Android Pay API could be used by app developers to incorporate mobile payment features into their creations. The API would support the development of single-tap purchases, which highlights the convenience of mobile commerce. Google may also have plans to make the API available retailers with physical stores, giving them the ability to develop convenient mobile payment systems. Google is expected to include Host Card Emulation with its new API, which will remove the need for a secure element and make NFC-based transactions more convenient.
Wallet platform may benefit from the new API
Google Wallet will not be vanishing after the launch of Android Pay. Google intends to continue supporting the Wallet platform and continue to work to raise awareness of the service. Apps developed using the Android Pay API could be linked to Google Wallet, which will help create a more robust mobile payments ecosystem for Google and provide consumers with more options when it comes to mobile payment services.
New initiatives could help Google compete in the mobile payments sector
Google may be looking to diversify its presence in the mobile payments space. The company’s acquisition of Softcard is expected to improve the Wallet platform with new technology, but Google is also looking for ways to help retailers and other businesses embrace mobile commerce. A more diverse portfolio could help Google compete with other companies in the mobile payments space. Some of these companies have established a stronger position in the sector than Google currently has.