Android Pay may enter Japanese market with Mitsubishi UFJ Financial Group

31 August 2016

Android PayAccording to the latest rumors, as reported by Bloomberg, Google is going to team up with one of the largest Japanese financial holding companies Mitsubishi UFJ Financial Group Inc. over its mobile payments service Android Pay. According to the industry insider owners of Android gadgets will be provided with the functionality to make payments with their MUFG debit cards using the mobile payment application. Earlier the information was provided by Asian media giant Nikkei.

The negotiations are held between the Japanese banking tycoon with the total deposits for 1.6 trillion US dollars and Google’s parent company Alphabet Inc. Alphabet provided no remarks on the matter, neither did MUFG.

Android Pay, Google’s mobile wallet project mostly based on Google Wallet, is largely used in the USA, Great Britain and Singapore along with Australia. The platform resembles NFC technology with the two-step identification process. With access to MasterCard and Visa payment cards the services is operating with a large number of banks added constantly to the platform.

Earlier this year Google launched a new experiment with the Hands Free service, where consumers need no mobile device or card to make payment for their purchases at the store. They just need to say they want to “pay with Google” and provide their name at the checkout, after which their identity is verified through the picture preloaded to the payment service.

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