The so-called battle for domination within the mobile software revolves around two major IT giants, Google, and Apple. Both companies are side-by-side when mobile payments are concerned. They also seem to be preparing to push deeper into digital wallets.
The Mountain View Company is all set to unveil its plans this Thursday on its annual developer conference. They will unveil some interesting facts concerning mobile payments products, according to sources who are familiar with the situation. The details are still confidential.
These changes involve a service called Android Pay, which will give merchants an opportunity to accept credit card payments which will be done via mobile apps. Those payments can be integrated with all sorts of loyalty programs many retailers offer, according to what people said.
Another interested thing is that the Google Wallet will be refigured as a peer-to-peer payment app. That will allow buyers to send money to one another directly from their debit accounts.
Apple is also in the race and is in the middle of preparing to announce some interesting facts and details about their improvements to the Apple Pay. They will announce these changes at its software conference which will be held next month. The improvements will include a rewards program for their Apple Pay wallet service. According to the people briefed upon the product.
The battle between Google and Apple is expected because average consumers are constantly on the move, and make more purchases on to go, so to speak. People use their intelligent phones and tablets to buy things, more often than ever. It is no wonder that the companies are hasting to get a piece of the pie as well.
Big companies such as PayPal are in a rush to market a whole pallet of mobile apps to gain more customers. Some start-ups like Stripe or Square tend to broaden their processing software for mobile payments to midsize and small businesses.
The IT giants, Google, and Apple are about to enter mobile payments for the first time, and stakes are incredibly high for them both. Why is that so? Well, they are entering the mobile payment system a lot later than some other companies in the same industry. For instance, when Apple is concerned, people will always connect more to its main product, and that’s the iPhone of course. When Google is concerned, mobile payments are just a hook to get users into their surroundings of a pallet of services and a solid way to gain some insight about the users.
Mobile payments are in a massive growth, and it is predicted by the Forrester Research that the mobile payments will rise sky high even up $142 billion by the end of 2019 in US alone. That means it will triple from $52 billion in the previous year.
Even though Apple and Google have a long way to go, they still offer something that others don’t. Software and hardware, plus an incredible desire to succeed.