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More details emerge on Google's Android Pay mobile payment system

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Android Pay

Little is known about Android Pay, Google's forthcoming mobile payment system, but a new report has provided some interesting new points.

Google announced Android Pay at MWC back at the beginning of March, but it provided scant few details at the time. With Google I/O imminent, it's expected that the software giant will expand upon Android Pay's capabilities at its annual conference.

The New York Times appears to have stolen a march on Google by letting slip a few of those details in a recent story.

According to several people familiar with the situation, Android Pay will let merchants accept credit card payments from inside their mobile apps. It can even be integrated into those retailers' loyalty schemes, adding points to an account for every purchase.

It seems as if this reward tie-in will be one of the factors that will draw retailers into supporting the new system. Indeed, Apple is also rumoured to be bringing such a reward element to Apple Pay at this year's WWDC.

The key advantage of Android Pay over Apple Pay, of course, will be its cross platform nature. It will be made available for both Android and iOS, theoretically helping it to reach a much wider market much more quickly.

Read More: Google I/O 2015: What to expect

Google Wallet isn't for the chop either, despite being a bit of a failure ever since its 2011 launch. Rather, Google will revamp and reintroduce it as a peer-to-peer payment app. It will allow the easy transfer of funds between debit accounts, according to the report.

We should find out more from 17:30 (GMT) today when Google kicks off Google I/O with a mammoth two-and-a-half hour keynote address.

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