Google has introduced Android Pay, which will allow users to make purchases in retail stores without using a debit or credit card. Customers unlock a smartphone, place it near the retailer's contactless terminal, finalize the transaction, and can leave the store. Users don't even have to access the Android Pay app.
Some of the financial institutions include Chase, Capital One, US Bank, Citibank, American Express, MasterCard, Discover, Navy Federal Credit Union, and PNC.
Android Pay will also allow users to tap to pay while making purchases online, as they only need to click a "Buy with Android Pay" button.
Google said Android Pay will be available via Google Play soon, but hasn't confirmed an official release date. It was a strong business decision by Google to make sure major financial institutions are onboard with Android Pay, immediately opening the door to a large number of users.