Google Wallet

The report says that Android Pay is being designed for third-party apps to use for their in-app or in-store features, but at the moment there are no partners signed up to use the API: Ars Technica reports:

Android Pay will allow companies to add a mobile payments option to their app, to which users can upload credit card or debit card information, so that payments become single-tap transactions within the app. In addition, a company adopting the Android Pay API will be able to allow tap-to-pay transactions in brick-and-mortar stores. This function will rely on Google's Host Card Emulation (HCE), which makes it easier for third-party apps to take advantage of Android phones' Near Field Communications (NFC) chips.

The report adds that Google Wallet users will be able to link their account to any third-party app that decides to support the new Android Pay API. There are apparently no plans to ditch Google Wallet at this point, although that could certainly change.

Source: Ars Technica