Mobile payments straight from Barcelona – Android Pay, Samsung Pay and PayPal buying Paydiant

The mobile payments market is constantly expanding. Six months ago, Apple introduced its Apple Pay contactless payment system. Newer and newer players are entering the payments arena – at Mobile World Congress 2022, Samsung unveiled not only its latest smartphones from the Galaxy line – Samsung Galaxy S6 and Galaxy S6 Edge, but also the Samsung Pay payment system. Google, meanwhile, announced the creation of the Android Pay platform, which is intended as the company’s answer to rival Apple Pay.

It also provides an API for developers. PayPal decided to acquire startup Paydiant, which will make it easier for the company to establish a presence in the mobile market.

Android Pay

Google has actively entered the m-payments game. Last week Google acquired Softcard, thus establishing cooperation with AT&T, Verizon and T-Mobile to have the largest telecom providers sell devices with the app pre-installed Google Wallet. Wallet will be installed on Android devices having a KitKat or Lollipop system version.
During Mobile World Congress 2022, Google has announced that they are currently working on a framework that will allow the mobile payment system to function seamlessly on Android. Google has introduced Android Pay – A platform that allows developers to build a payment system into their applications. Android Pay acts more as not a standalone service, but an API template. This will make the payment system function at the level of the operating system itself, making it easier to make payments with the help of Google. Android Pay is to serve as an intermediate platform for creating innovative payment services.

Google Wallet will continue to function as a separate service, based on the Android Pay framework.
For now, it is known that Android Pay will function on a similar basis to Apple Pay – most likely using a tokens Instead of full payment card numbers. The system will also be supported by Visa, MasterCard and American Express.

Samsung Pay

Also presented during the MWC 2022 system Samsung Pay is to allow payment with the phone in all stores. There is no need to change terminals or special adaptation of stores to accept this technology. This is thanks to the fact that Samsung allows payments to be made both through the NFC, but also MST – Magnetic Secure Transmission, which is the technology we know from the magnetic strips of our payment cards.

The company has partnered with Visa, MasterCard, American Express, Bank of America, Citi, JPMorgan Chase and US Bank.
Data security is guaranteed by the fact that the customer’s data is not stored on the mobile device, but will be generated one-time tokens, similar to Apple Pay or Android Pay. Authorization will be done via fingerprint reader.
Samsung Pay will be available later this summer at United States and Korea, and later also in European and other countries.