Google for India 2022: Tez is Now Google Pay; Introduces Key New Features

Concluding twelvemonth in September, Google launched its simple UPI-based payments platform Tez in Bharat. Since and so, the app has been downloaded by over fifty 1000000 users and is used by more than than 22 meg individuals and merchants each month. At the recent Google for India (2018) event, the visitor also revealed that over the course of the twelvemonth, users have conducted over 750 meg transactions using the app which are worth over $30 billion.

Tez has also played a major role in the growth of UPI payments in India, which have shot upwards over xiv times since its launch. The visitor further revealed that its adjacent step in the process is to unify all of Google's payment offerings globally, starting with Tez which will now be called Google Pay.

Even though Tez has now officially been renamed to Google Pay, the app will retain most of its features. Information technology will still have the familiar contacts on the dwelling house screen, the one-touch payment option for merchants, along with the rewards and offers that the app is known for. Since the app volition at present be chosen Google Pay, the company also aims to bring much of Google Pay's functionality to the app, including wider back up across web, apps and retail outlets, for a more seamless payments experience.

The company also plans to increase the number of places where Google Pay is accustomed in the land and plans to on-board many more websites, apps, branded retail stores and offline merchants. Soon, you'll be able to make payments using Google Pay at a variety of different retail outlets, including Big Bazaar, e-Zone and FBB. Google Pay'southward shift towards a broader audience volition also benefit minor businesses, who will now observe a platform to fulfill all online payment needs with relative ease.

I of the most important announcements, which volition surely take a massive affect on the fin-tech space in India, is Google's motility to accelerate fiscal inclusion via Google Pay. The company has partnered with HDFC, ICICI, Federal and Kotak Mahindra Banks to facilitate pre-approved loans to their customers from inside Google Pay. Customers from partner banks will be able to have out a customized loan corporeality from their bank accounts with minimal paperwork. The entire loan disbursal process will have play within the Google Pay app and customers will get the pre-approved loan in their banking company accounts within seconds.

While I'yard not a huge fan of the company'south decision to change the name of its iconic payments app to Google Pay, I'm quite sure that all the features that the company plans to introduce to the new app volition accept a significant bear on on the fin-tech infinite in the state.

Source: https://beebom.com/google-for-india-2018-tez-is-now-google-pay-introduces-key-new-features/

Posted by: bradleyberstionshe1989.blogspot.com

Share this post