There are lots of new entrants and innovation coming in the digital payment sphere of India. And, now Google is also coming to join the momentum of digital payment in India.
Google too doesn’t want to be left behind too in the race of digital payment in India. Google now has rebranded its digital payments application Tez on Google Pay.
Google Pay is now the original name of the platform and the name is used by the company in markets which is outside India. There are lots of new tie-ups for providing new services by the application of Google Pay and there are lots of other feature in the application.
Customers who are using the Google Pay’s Services will be able to get the pre-approved loans due to the new partnership with private banks according to the announcement made by Google Pay in its annual company event.
Google has done partnership with four different private banks which includes Kotak Mahindra Bank, Federal Bank, HDFC Bank as well as ICICI Bank and with the help of them it is now offering pre-approved loans to its customers.
Things You Need to Know About Google Pay:
There are lots of users in India who have been using the services of Tez now Google Pay Service. The latest Google application have 22 million monthly active users which have more than 750 million transactions done on its platform.
The average annual transaction made on the platform of Google Pay is recorded approximately 2 lakh crores. Google Pay is also looking forward towards increasing the merchant list who are accepting payments from the application.
Google is aiming to reach the number of its merchants to 2000 in near future with most e-commerce and online services being its primary targets.
Google is also looking forward to have a talk with over 15,000 retail stores for integrating their services, like FBB, e-Zone as well as Big Bazaar.
The payment services Tez which has been renamed as Google Pay will be an integral part of Google growth plans and strategy in the country.
Google Pay service is customized and available in several local languages in the country and it offers lots of cash backs for using Google Pay for digital payments.