Android Pay – What you need to know

Android Pay is the new mobile-based payment service that has just launched in the UK.

Following on from Apple Pay the service from Google offers Android users an alternative way to make payments.

What you need for Android Pay?

To use Android Pay you need a phone running a 4.4 version of Android or above. It will also need to be a NFC device (Near Field Communication).  To check what operating system of Android you’re running simply open the settings menu and select the ‘about device’ option.

It’s also secure and you can remotely wipe your device should you lose your phone – so nobody else can use it.

Why should I use Android Pay?

This applies not to just Android Pay, but to similar payment methods such as Apple Pay and cards. Only spending what you need can help keep more money in your account. This in turn doesn’t give you the opportunity to spend ‘change’ if you made a cash purchase.

However…

There are some studies that do point to paying by cash as having a ‘real’ feeling. Whereas paying by card feels ‘detached’ because no physical money changes hands. And this could potentially lead to spending more.

Who has signed up to Android Pay?

A number of leading banks have already adopted the service including HSBC, Lloyds and Nationwide. Android Pay is also set to support in app purchases. So if you’re on the Domino’s app you’ll be able to pay for your pizza using Android Pay.

Other vendors are also set to release phone based payment systems including Samsung and Huawei.

Where can I use Android Pay?

A number of brands have signed up to supporting the service from launch including Greggs, Aldi and KFC.

The future of mobile payments

In years to come cash payments may not be the chosen method of payment. Food retailer Waitrose are about to open a store which will only process cashless payments – leaving no need for physical cash.

Some firms have already begun to embrace payment using mobile and apps. One such instance is that of Greggs.

Their ‘Greggs Rewards’ app allows for customers to pay for products using a mobile phone. Further benefits, such as free food and drink, are awarded to customers using the app several times. While slightly different to Apple and Google Pay the same money saving idea applies – you only spend what is required with no change in your pocket. However you are required to preload the app with cash. But if you’re a regular shopper to a store that offers such a service then it may be of benefit.

More details can be found on the Greggs site.

If you want more detail about Apple Pay then take a look at our blog.