Google launches its Apple Pay competitor, Android Pay

Fortune

At its I/O developer conference on Thursday, Google shared more details on its mobile payments plans and revealed a new product: Android Pay.

Android Pay allows users of mobile phones equipped with Google’s mobile operating system, Android, to upload any credit or debit card to a « mobile wallet » on their phone. They can then use their phone to pay for goods at more than 700,000 retail stores in the U.S. that have point-of-sale registers equipped with near field communication technology, known as NFC. The result? A one-touch digital payment.

Participating retailers include Whole Foods, Macy’s, and Walgreens.

On its surface, Android Pay looks a lot like Apple Pay, which launched last year to allow consumers to pay for items by touching their iPhone to a retailer’s point-of-sale device. As with Apple’s offering, developers can use the Android Pay system to power payments within their apps. For example Lyft, the on-demand…

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