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I appreciate the news facts, not the commentary. Google previously provided in-app payment via Google Wallet. It also allowed for payment on the web as well. Google's upgraded payment service, Android Pay, is simply continuing the modernization of its payments stack. 

This is the Google Developer link for Android Pay:  https://developers.google.com/android-pay/?hl=en

Great debate everybody. Brett said it best when he said "If banks were good at this stuff, then quite frankly Moven, Lending Club, Venmo, etc wouldn't exist." This is the obvious truth. Brett mentioned US company BankMobile, which is not a start-up. They are a division of a business focused community bank. They exist becuase most of the other retail banks are failing. They saw the success of Simple, Moven and others and said hey a bank can do this too. Over the last decade we have seen the rise of the disruption of last centuries banking model. This dusruption is littered with failures. Do you remember Wesebe? Despite all these failures, the growth of both FinTech companies and the investment in FinTech continues to grow around the world.  

Savings using traditional bank and credit union savings products is as antiquated as the products themselves. New modalities need to be created. These modalities should have been built during the creation of internet based banking but it was not. We are finally starting to see movement in this area. I could share more here but I already did here: The FinTech Assault on the Bank and Credit Union Deposit Relationship

and Duena Blomstrom, did here: Get me addicted to Saving!

These services are a help. FinovateSpring is also unleashing even more spectacular product and services offering from DoublePay Net, Yadlee and Moven.

We need more from the traditional banks and credit unions.

The problems reported by Phoenix Marketing International (PMI) are a good sign. People want to use this technology. It is what drives me to use my Google Wallet. A wallet puchase is easier for me. Many in the US say that there is no value vs the swipe. While true in a sense, that modalaty is now deprecated. When US customers start using EMV cards and can no longer simply swipe and have to dip, they will see the value of an NFC smartphone wallet like Apple Pay, Google Wallet, or the expected to be forthcoming new Android mobile payment systems powered by HCE/Android Pay. REmember, we need to look at this payment behavior looking forward, not backwards. 

The investment in Cyanogen is smart! Working closely with a mobile OS partner as we move further into the smarhpone, tablet, and IoT era is advantageous.