Google is now preparing to release the 2015 Nexus 5 smartphone this October. Reports are strong that killer specs to be debuted by the search giant, reasonable price tag and Android Pay are heading to the tech department.

The 2015 Google Nexus 5 is expected to hit the shelves before the year ends bringing with it Android Pay's debut to battle it out well-known services like Apple Pay and Samsung Pay. As successor to the 2013 version of Nexus 5, Google is reported to be on a huge preparation for the upcoming flagship smartphone to sport killer specs to exceed expectations.

According to previous reports, the 2015 Nexus 5 will rock a fingerprint sensor for payments at Android Pay. This is the same mechanism used by tech titans Samsung and Apple. Apple's mobile payment system has been received well by its users since it was first released in October 2014.

Forecast reports meanwhile show that Google might only be using short range of wireless communication and near field communication (NFC) just like Apple Pay. Samsung's service has been praised since it allows both magnetic secure transmission (MST) and NFC.

Google first hinted the new payment service at the I/O Developers Conference last May. A news reports suggests that Android Pay will be totally ditching Google Wallet. However, this report has not been confirmed by Google's executives or sources.

Expectations are high for the 2015 Nexus 5 since its two predecessors-2013 Nexus 5 and 2012 Nexus 5-have been performing well in international sales. Google's release of the 2015 Nexus 5 however is seen as a reviving tactic of the firm from Nexus 6's plummeting sales performance back in 2013.

Meanwhile, a new leak yesterday shows that the Nexus 5 version of Huawei will sport a 5.7-inch screen display while LG's version will have 5.2-inch. Both will use a metal chassis, front panel speakers, back panel fingerprint scanner, Type-C USB.

Earlier leaks suggest that both Nexus 5 versions will have a full high denifition P-OLED screen, 4 GB of RAM, 64 GB of external storage capacity, 3180 mAh battery, 4 MP front-facing camera, 13 MP rear camera, a Qualcomm Snapdragon 620 processor, and a MediaTek connectivity chipset.

The 2015 Nexus 5 smartphone will cost around US$ 500 to 649 depending on the storage capacity.