Google Reveals Android Pay. So What Does It Mean For Apple?

At the Mobile World Congress event in Barcelona, Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) detailed its mobile payments framework called Android Pay.

Google's Senior Vice President of Android, Chrome and Google Apps Sundar Pichai said that Android Pay will not be a separate payment app as it will be platform that enables developers to integrate mobile payments into their apps using an API layer.

Pichai further explained that Android Pay would make use of account number tokenization and that it will work with NFC and biometric authentication.

JP Morgan's Rod Hall suggested in a note on Tuesday that he isn't overly concerned about Google's Android Pay. The analyst noted that it has a "neutral impact" on Apple Inc.'s (NASDAQ: AAPL) competing Apple Pay system.