The Google Tez app has 22 million daily users in India.
Google has everything in its drawer that can infuse life into any product. In a new move to give some new colors to its payment app, Tez, the tech giant has rebranded it as the Google Pay app. The Google Tez is a widely used app in India’s payments market. The Google not just renamed the app, but it also brought along a lot of features into it.
The new step has come after the Google realized the true potential of the Indian payment market, complimented with the considerable success of its Google Tez app. The Google also boasted its success with the fact that other countries also requested it to launch similar payment services in their area and based upon that, the company may roll out Google Pay type services in other countries too.
“We have learned that when we build for India, we build for the world, and we believe that many of the innovations and features we have pioneered with Google Tez will work globally. The world has certainly taken notice of India’s digital payments success and our deep investments here with Google Tez,” the Google Said in one of its blog posts. “Many governments are asking us to work with them to bring similar digital payments innovations to their countries. To make this happen, we will be unifying all of Google’s payment offerings globally. Starting today, Tez will now be called Google Pay.”
Google claims to have over 22 million monthly users of its digital payment app with people covered from more than 300,000 suburbs, towns, and villages to pay their electrician, book bus rides or split a dinner bill with friends. Till now, the Google Tez users have made over 750 million transactions using the app.
To add more value to the Google Pay, the company is adding more features to it like by adding the number of places you can pay with Google Pay, building a dedicated merchant experience, and the inclusion of financial assistance.
“We’re partnering with banks such as HDFC Bank, ICICI Bank, Federal Bank, and Kotak Mahindra Bank to facilitate pre-approved loans to their customers, right within Google Pay very swiftly,” the Google stated. “In the coming weeks, these customers will be able to use Google Pay to take out a customized loan amount from their banks, with minimal paperwork, and once they accept the bank’s terms, the money is deposited securely and instantly by their bank, into their bank account.”
Google truly understands the significance of such a service in India and therefore, Sundar Pichai, Google CEO described Google Tez, now Google Pay, as the key component in building the company’s India strategy. For being friendly to all the local users, Google has added several Indian languages for interaction.
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