Android Pay, Google’s contactless smartphone payment system has launched in the UK. Although Android pay is not currently possible with Monese, we’re really excited about including it in a future release and thought you’d all be interested in knowing a little more about it.
To use Android Pay for contactless payments (just by tapping your smartphone on a contactless payment pad) you have to own a NFC enabled device (not all Android phones support this), have the Android Pay app, and you will need to link your bank card via the app to the payment system. The payment you’re making will also need to be £30 or less, as this is the current contactless payment limit in the UK.
Android Pay can be used wherever contactless cards are accepted, including across the London Transport network, and it works in the same way that Apple Pay does. Google have added another layer to their payment system, with the introduction of a bespoke offer system called Android Pay Day. On the last Tuesday of every month (starting in June), retailers like Starbucks and Deliveroo have special offers for those who use Android Pay.
The market opportunity for technologies companies including Google, Samsung and Apple is clear. There have been over 84 million contactless cards issued in the UK to date, and over £1.3 billion has been spent via contactless payments so far. In January Transport for London recorded 3.2m journeys using mobile devices in six months from July. There are also 332,607 bank-owned contactless payment terminals across the UK, according to the UK Cards Association.
The projected growth is huge, with contactless usage growing 36.5% year on year. Managing Director of Accenture Payment Services has also agreed with the rapid growth predictions saying ‘The number of contactless card payments is set to surpass 3bn in the UK this year’.