Mobile Payment services
2018. PayPal integrates with Gmail and other Google services
Google earlier this year rebranded all of its payment services under Google Pay to help it double down on making transactions across its platform more frictionless (and more used). Now comes another development: PayPal and Google are kicking off a deep integration, where users who add their PayPal details to their Google Play accounts will be able to pay bills and for other items, using PayPal, without logging in and without leaving the Google services. The integration, when it goes live later this year, will cover apps like Gmail, YouTube, Google Store and any services using Google Pay — and it will include not just payments but also peer-to-peer transfers.
2018. Microsoft Pay comes to Outlook.com
Microsoft Pay (Microsoft’s answer to Google Pay and Apple Pay) is coming into Outlook. This means that when a company sends you an invoice in an email, and you are using Outlook to read it, you can pay that bill directly, without needing to leave Outlook and open a different app or service. As it launches — Microsoft says it will come first to a limited number of Outlook.com users over the next few weeks, and then more broadly over the next few months — it said that Stripe (using Stripe Connect) and Braintree will be among the payment processors powering the service, and Zuora, FreshBooks, Intuit, Invoice2Go, Sage, Wave, and Xero will be among the billing and invoicing services that will initially be using the feature.
2018. Android Pay becomes Google Pay
Google is uniting all of its different payment tools under the Google Pay brand. The company is rolling out Google Pay app for Android and introducing some new functionality that the company hopes will make its payment service ubiquitous — both in stores and on the internet. Google Pay home screen now shows you relevant stores around you where you can pay with Google Pay. In addition, Google is also launching a redesign of the Google Wallet app for sending and requesting money — and it’s now called Google Pay Send.
2017. PayPal teams up with Android Pay for mobile payments
PayPal and Google announced an effort aimed at allowing PayPal to expand its footprint both within mobile applications as well as at brick-and-mortar retailers. The partnership will see PayPal becoming available as a payment method in the Android Pay service, which will allow U.S. users to pay for things like Uber as well as at retailers like Walgreens, and restaurants like Dunkin’ Donuts and Subway. The integration in Android Pay will begin by allowing Android users to select their PayPal balance as a method of payment, but will expand to include the cards users have added to their PayPal account in the months ahead.
2016. Samsung Pay gets in-app payments and Masterpass support
Mobile payment platform Samsung Pay, which lets users keep all their bank cards in virtual form on their phone and use them for contactless payments, has partnered with Mastercard to add support for Masterpass, a digital wallet solution that stores users' payment and shipping information, making online payments easier. The service will become available to users in early 2017. U.S. Samsung Pay users are also getting support for in-app payments in November. They'll be able to select Samsung Pay when paying in merchant apps that support the platforms. Finally, the new Deals feature will automatically locate nearby discounts and coupons in stores and restaurants; users will be able to instantly redeem these deals.
2015. Mobile payment service SumUp raised $45M
European mobile payment startup SumUp, that competes against the likes of Square, iZettle and Rocket Internet’s Payleven, has raised a new funding bringing its total investments to $45 millions. In a similar vein to Square, SumUp will be focusing on using this investment to upgrade its hardware. Unlike companies like iZettle, Klein explains that SumUp has built out its business to be as vertically integrated as possible. That includes designing its own hardware rather than partnering with outside firms. Today, SumUp is active in 13 markets — 12 in Europe and Brazil — and there are plans to enter two more by the end of this year, including iZettle’s home market of Sweden.
2015. Samsung Pay takes on Apple Pay and Google Wallet
Samsung announced a new mobile payments solution Samsung Pay that will arrive on the new Galaxy S6 and S6 edge smartphones this summer. And though Apple and Google may have brought their contactless payment technologies to the market first, but Samsung Pay fills in sizable gaps that Apple Pay and Google Wallet have in their services. Samsung Pay uses both near-field communications (NFC) and magnetic secure transmission (MST) technology from LoopPay. That means that it can not only make the same secure contactless transactions that Apple Pay can, but it can also make “swipe” purchases on the vast majority of older payments terminals that haven’t upgraded to NFC. Samsung brought MasterCard and Visa to the table as partners along with four of the largest card-issuing banks: JP Morgan Chase, Bank of America, Citi and US Bank.
2015. Samsung buys Apple Pay alternative LoopPay
Samsung has acquired the mobile payments platform and Apple Pay rival LoopPay. LoopPay allows users to make mobile payments via their smartphones. But unlike Apple Pay, which uses near-field communications (NFC), the company uses magnetic secure transmission (MST), similar to the magnetic strip on traditional credit cards. Users store credit card information in a digital wallet via LoopPay's app (it's on iOS and Android), but transactions also require the company's $59.95 card case or $10 key fob, which enable the MST payments. LoopPay has previously touted its platform as being better and more widely accepted than Apple Pay — since it uses external hardware, it doesn't require merchants to adopt the same type of technology as Apple Pay — although the necessity of extra hardware adds an extra, potentially awkward step, to transactions.