Apple and Google reportedly plan mobile payments overhaul as competition heats up

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Once friends and allies, Apple and Google have emerged as rivals — and now may be jockeying for position in the competitive arena of mobile payments. As both companies approach their respective developer conferences — Google I/O kicking off tomorrow and Apple’s WWDC starting June 8 — new strategies are reportedly underway around mobile payment products, according to a report in the New York Times. The newspaper, quoting unnamed sources, said that a service called Android Pay is emerging that will let merchants accept credit card payments from their mobile apps and integrate with loyalty programs. Android Pay may be used at physical stores,…

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