Several financial institutions have shown an interest in the plans by Google for Android Pay to become available in the UK in the coming months. Nationwide Building Society, Lloyds Bank and HSBC have all welcomed plans for the introduction of the facility which allows an Android device running 4.4 or higher to act as an alternative for debit and credit cards by the use of a special chip. Users store their card details within an app and then payments are authorised either by fingerprint recognition or by use of a passcode.
Competition is already heating up, however, as Samsung unveil their own scheme called Samsung Pay which is also coming to the UK later in the year and which some industry pundits favour to Android Pay. With contactless card payments having been taking up like a storm by an initially skeptical public, Android and Samsung Pay might enjoy a similar success despite increasingly security-wary consumers.
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