Google and Apple Adjust Strategies on Mobile Payments

The battle for mobile software dominance revolves around two companies: Apple and Google. Now both giants are also going head-to-head in mobile payments, as they prepare to push deeper into digital wallets.

Google is set to unveil plans at its annual developer conference for an overhaul of its mobile payment products. Changes include a service called Android Pay that will let merchants accept credit card payments from inside their mobile apps and can be integrated with loyalty programs at retailers. Google Wallet, a mobile commerce app, will also be reintroduced as a peer-to-peer payments app that consumers can use to send money to each other directly from their debit accounts.

Apple is preparing to announce details about enhancements to Apple Pay at its software conference. Those include a rewards program for the mobile wallet service.