For the history junkies
Google was the first to introduce Google Wallet back in 2011 where using a mobile phone one could make payments, redeem coupons and earn loyalty points using the NFC (Near field communication) technology. However, now Google has replaced Google wallet with Android pay and has made it compatible with 70% android devices.
During the launch of iPhone 6, Apple Inc. launched its mobile wallet app for iOS devices called Apple Pay which was first available only in the US but now also available in UK and China. Apple also announced an API that app developers can use to build Apple pay checkout in their apps.