As Google dazzled developers at this year's I/O event, a theme emerged that hinted at the tech giant's vision for its role in the future of payments. Although it may not have released any new payment-specific hardware or software, nearly all of the offerings Google announced will in some way integrate with its Android Pay platform, bringing the digital payment method into a host of new realms.
Whether your business can integrate with these tools right away or not, taking a look at how the world's largest company is innovating in the payment space could give you a glimpse into the norms of the future.
Instant App Downloads
As a retailer, you might offer your customers product info, coupons or promotions via a custom mobile app. However, that valuable information could be wasted if your customers are out of storage, don't have an adequate connection or simply don't want to spend the time downloading your application. With Google's instant app downloads, Android users could access critical parts of an app directly from Google Play, without having to wait for a download. This could improve customer engagement and conversions for retailers leveraging mobile apps.
Allo is Google's all-new messaging service. Built to rival tools like iMessage, WhatsApp and Facebook Messenger, Allo could include a peer-to-peer payment system backed by Android Pay. This would be Google's first major foray into message-based payments.
Much like Amazon's Echo, Google's Home device puts a virtual assistant on its owner's countertop. With always-listening speakers, Google Home is ready to answer questions or control other connected devices throughout the home whenever its needed. Many predict the device will integrate with Android Pay, allowing users to place and pay for orders or pay their friends with nothing but their voice.
In addition to the applications above, Android Pay is also expanding within its original smartphone environment. Google is introducing new tools that allow developers to enable Android Pay within their apps or websites more easily, pushing the payment system beyond it's current typical NFC-based use case.
At Vantage, we're experienced in helping merchants determine which payment processing solutions are right for their business models. Contact us today to learn more about our solutions, ask a question or schedule a consultation.