The days for carrying wallets filled with credit cards are coming to an end. You can pay for products, buy an airline ticket, or access various financial services via iPhones.
When Android Pay and Apple Pay hit the market, credit cards became out dated. The former is a product of Google while the latter represents the Apple brand.
Despite being in the same field, the two mobile digital money providers, differ in various ways as follows…
With so many new technologies emerging in the digital market, Apple Pay came to life in 2014. At the time, Apple Company was coming from a major hacking incidence that left many brands vulnerable.
So far it is available in the US and UK since it is still relatively new and a majority of people regard it as expensive. On the other hand, Google has been on the market a lot longer than Apple.
Therefore, many people are aware of the Android Pay and it’s service. The digital money provider is also new to the industry because it hit the markets in 2015.
Unlike Apple Pay, all one needs is an Android device to avoid long paying queues.
Many people across the globe own smartphones and they affordable with numerous models to choose from.
Typically, Apple Pay is restricted to Apple devices like iPhones but since it is a technical issue, the future is promising for its progress.
Not all iPhones are compatible with Apple Pay because they lack NFC which supports digital trading.
However, iPhone 6, 6 plus, 6S, 6S plus, and the latest iPhone SE are equipped with the chip responsible for mobile transactions.
Though iPad Air 2 was discovered to have an NFC chip, it lacked the peripheral antennas to make the chip work.
Compared to Apple Pay, Android pay is compatible with any Android with NFC and be able to run Android 4.4 KitKat.
The number of devices supported by Android is countless including cheap phones and tablets like the Nexus 7.
All things considered, Android Pay is more exposed than Apple Pay but the tables might turn because the two brands are neck to neck competitors.
Banks and Shops That Accept Them
According to statistics, both digital providers can be used in various stores in the US and UK.
In London, they are supported where contactless payments are required, basically everywhere, and Apple has the upper hand in making deals than Google because Apple Pay has been on the market for a lot longer.
Pay, on the other hand, is a development from Google Wallet which was already established in online payments.
Several companies accept Android Pay including Uber, Expedia, Domino’s, Groupon, Coca-Cola, Subway, and American Eagles among others.
While most banks accept both systems, Co-operative and Barclays bank have relied on Apple Pay a lot more.
However, the two banks are considering using Android Pay since they are active branches in developing and underdeveloped regions (here, iPhones are extremely expensive or unaffordable).
Apple Pay has penetrated many financial institutions and their cards while Android is working on adding more each day.
When it comes to financial issues, security is always at the forefront. Many people want to know whether the information retrieved from their bank card is safe.
With Android Pay, your actual credit card information is safely hidden in Google cloud while you use a virtual account number that does not display any personal information.
In case one’s phone is lost, stolen or damaged, alert your bank immediately or wipe out all your financial data before replacing the device.
Security is enhanced with finger print scanners in both systems but Apple has an upper hand because many Androids lack the bio-level of security.
The rapid growth of online retail has enabled mobile money providers to deliver fast services within a short time period.
Banks are able to decongest their institutions by adopting mobile transactions for customers. The competition between Google and Apple has enabled smooth transaction within stores and organizations.
The main challenge lies in people’s beliefs that traditional contact methods are safer. They find comfort in swiping credit cards and paying cash.
With time, the burden of trying to figure out where one kept his/her card will be outweighed by the need to walk around without handbags or wallet.
The rate at which one forgets a phone is less than that of an ATM card. Between Apple and Android Pay, there is no winner despite their differences.
They are wireless payments supported by the same technology that human beings are implementing in their daily lives.
Order and pay for pizza at the comfort of your home and theatre fans can pay for tickets in advance to avoid missing an upcoming action movie or animation.