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Mobile payments were supposed to become epitome of transactions by now with online medium being the other logical and convenient option. So where have things gone wrong? Or should we assume that all the talk about mobile payments becoming mainstream was premature and it will take couple of years for the technology to become truly accessible.<br />
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Apple plunged in the payment sphere with Apple Pay (again confined to Apple devices) but that’s still remaining loyal to US market for now <a href="http://www.in.techradar.com/news/software/applications/Apple-Pay-isnt-far-away-from-swiping-its-way-to-India/articleshow/45613686.cms">with possibility of reaching India by end of 2015.</a> Google made its claim to become pioneers of the payment market with Wallet but that’s come to naught up until now.<br />
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So what does Google have in mind to redeem itself in this space? Well, their answer seems to revolve around the idea that ‘buying your way to stardom’ and this is where the search-engine giant is reportedly said to be eyeing Softcard to ease make decisive moves in this arena.<br />
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In most cases, Google has managed to hit the right notes but as is the case with Google Glass (not that successful), the company has its own share of failures and Wallet forms part of the dubious list. With Softcard, Google is looking to become efficient with the technology per say and giving them right armour to fight it out with rival payment companies.<br />
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Softcard is already available on Android and the features are reminiscent to the ones offered by Apple Pay. If Google manages to poach Softcard then millions of Android users become prospective Softcard users for the search major, thereby opening up a whole new revenue stream for them on global map.<br />
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Companies like iKaaz have made their move in India with similar payment services but keeping the country’s resources in mind, they’ve even utilized on the mobile features like SMS for making payments.<br />
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But coming back to Google’s alleged interest in Softcard, they could easily integrate the latter’s technology onto their existing model and from there on make use of their extensive consumer and client base.<br />
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Having said that, there is still time for companies to make a serious move in this space. According to latest Forrester Research reports, consumers will be buying $142 billion goods via their mobile devices and that’s been pegged to happen by 2019. Interestingly, this number stands at $52 billion, almost $100 billion opportunity for the likes of Google to make ground on, in the coming years.<br />
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<em>Image: marketingland.com</em><br />

Here’s why buying Softcard would make sense for Google?

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Google Wallet has been around since 2011 to help Android users pay for goods using their phones.</p><p>But, in just four months, Apple's payments solution Apple Pay, which leverages the same near-field communication (NFC) technology as Google Wallet, <a href="http://www.businessinsider.com/google-wallet-mobile-payments-2014-10">has surpassed</a> Google's offering in terms of usefulness and popularity.</p><p>So, on Monday, Google gave a big boost to its mobile wallet. <a href="http://googlecommerce.blogspot.ca/2015/02/tap-tap-whos-there-google-wallet-and.html">It announced</a> it's acquiring Softcard, a mobile payments company backed by Verizon, AT&amp;T, and T-Mobile.</p><p>Before, Google Wallet had limited availability because those three wireless carriers wanted to promote Softcard instead. Sprint was the only major US wireless carrier that officially supported Google Wallet. Now, when you buy a new Android phone from any of the major US carriers, that phone will have Google Wallet.</p><p><span style="line-height: 1.5em;">Google Wallet's functionality will now come pre-installed on all Android phones running KitKat (Android 4.4) or higher sold by any of those carriers later this year.</span></p><p>Google also announced it's "acquiring some exciting technology and intellectual property from Softcard to make Google Wallet better." Softcard also <a href="https://news.gosoftcard.com/2015/02/23/softcard-and-google-complete-deal-to-power-the-next-generation-of-mobile-payments/">confirmed the news</a> on its website.</p><p>Ariel Bardin, Google's VP of payments, says the company has "more to come" as it's been working to make Google Wallet "even more useful to you," but it's unclear when we'll see any new features. For now, though, putting Google Wallet in all future Android smartphones will be a big boost for Google's payments platform as it looks to compete with Apple Pay.</p><p>Adding all the major carriers, as well as Softcard, will let more Android owners take advantage of Google's tap-and-pay system. But, Google Wallet still faces an uphill battle: Apple Pay is off to a strong start, and Samsung's next flagship phone will <a href="http://www.businessinsider.com/why-samsung-wants-an-apple-pay-competitor-2015-2">reportedly come with its own mobile payments built-in</a> thanks to LoopPay, which is compatible with traditional magnetic card readers - unlike Apple Pay and Google Wallet - and supports 90% of all point-of-sale terminals.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Google's answer to Apple Pay passed a major hurdle

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Google may be announcing a mobile payments API (application program interface) called Android Pay at Google's I/O conference in May, <a href="http://arstechnica.com/business/2015/02/google-will-launch-android-pay-at-io-in-may/">sources tell Ars Technica</a>. </p><p>Companies could use Android Pay to power their in-store or in-app payments with a single-tap.</p><p>Android Pay would be completely separate from Google Wallet, the company's current mobile payments product, though people who use Google Wallet could easily link their accounts to apps that use Android Pay. Google currently offers APIs for Google Wallet that can let sites embed a "Buy With Google" button, but Ars' sources weren't clear whether that would be phased out after an Android Pay launch. </p><p>The API would rely on "Host Card Emulation," which Google released with Android 4.4, which makes it easier for third-parties to supports near-field communication (NFC) payments. The advantage of Android Pay would be that customers wouldn't <em>need</em> to use Google Wallet, Ars reports. Since the company launched Wallet in 2011, the service hasn't taken off, but it <a href="http://www.businessinsider.com/google-wallet-gets-carrier-softcard-support-2015-2">passed a major hurdle Tuesday</a> it when acquired assets from Softcard, a mobile payments company backed by Verizon, AT&amp;T, and T-Mobile. Now, when you buy a new Android phone from any of the major US carriers, that phone will have the Google Wallet app pre-installed.</p><p>Android Pay's similarities, in name and otherwise, to Apple Pay are pretty obvious. If apps and stores could start using Android Pay to power mobile payments, it would be a simple way for the billions of people who use Android phones to pay for things. For Google, it would mean offline purchasing data that it could use to better target its online ads. </p><p><span>One notable difference between how Apple Pay and Google Wallet work is that Apple won't have any access to what users bought or how much they paid. Google, on the other hand, "sees" every transaction that a user makes.  </span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Google will reportedly launch 'Android Pay' in May to compete with Apple Pay

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Samsung made one of its most clever and strategic acquisitions Wednesday <a href="http://www.businessinsider.com/samsung-buys-looppay-2015-2">when it bought LoopPay</a>, a mobile payments company developing a rival platform to Apple Pay and lesser-known systems like CurrentC.</p><p>LoopPay has one key advantage over Apple Pay: It can work with just about any standard credit card reader. LoopPay's technology uses a metal coil to emit a magnetic field that can talk to most credit card terminals and securely transfer your card's information. Apple Pay, on the other hand, requires the merchant to have a special payment pad with near field communication (NFC) technology that's not available at most retailers.</p><p>As <a href="http://recode.net/2014/12/16/samsung-in-talks-to-launch-apple-pay-competitor/">Jason Del Rey of Re/code first reported</a>, Samsung is expected to integrate LoopPay in one of its new phones this year, likely the Galaxy S6, which the company will unveil at an <a href="http://www.businessinsider.com/samsung-galaxy-s6-launch-date-2015-2">event in Barcelona on March 1</a>.</p><p>But as the largest Android phone maker in the world, Samsung's decision to go with LoopPay over Google's own system, Google Wallet, threatens any hope for Google creating a unified mobile payments system for Android.</p><p>Now, Google is losing control of yet another piece of the Android platform by ceding control of mobile payments space to the two biggest companies in mobile: Apple and Samsung. It failed to turn Google Wallet into a viable option, essentially forcing its biggest partner Samsung to take matters into its own hands.</p><p>This is going to be a problem for Google and the Android platform in the long run. Other Android phone manufacturers like HTC, Motorola, LG, and Lenovo have yet to come up with a payments system as good as Apple Pay or LoopPay. <span style="line-height: 1.5em;">So far, there's no indication that those other partners will be able to rely on Google for the answer, meaning they'll also have to come up with their own separate solutions if they want to remain competitive, just like Samsung is doing with LoopPay. With Apple Pay taking off and Samsung about to implement a system that it claims will work at 90% of retailers that accept credit cards, Google's chances of owning mobile payments seem slim.</span></p><p>Android is already fragmented enough as it is. And when it comes to a mobile wallet, the next must-have feature in phones, most Android users will have to choose from a hodgepodge systems, whereas Samsung and Apple users will have their own integrated solutions. A Google spokesperson declined to comment.</p><p>There is one small glimmer of hope for Google: <a href="http://techcrunch.com/2015/01/16/softcard/">According to TechCrunch</a> and a few other scattered reports, Google may buy Softcard, a mobile payments platform backed by Verizon, AT&amp;T, and T-Mobile. Having the blessing of three major wireless carriers is a good start, but so far Softcard (which was formerly called ISIS, but had to change that unfortunate name recently), hasn't taken off the way Apple Pay has and LoopPay will likely be able to. And I'm not very confident Google will be able to change that, considering what a dud Google Wallet turned out to be.</p><p>Once again, Google is losing control over Android and letting manufacturers take over instead.<span><br /></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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