Surely it is a big step to have a bigger step in the India’s emerging online payment industry. During the company’s annual event held in Delhi , Google has announced that Google Tez will be renamed as Google Pay and adding to that Google added some new innovative features to it.
Get Instant Loan:
Now users of this app will be able to apply for pre-approved loans according to Google. Google has tied up with private banks like ICICI, HDFC, Federal bank & Kotak Mahindra Bank. The loans will be customized & users have to accept banks terms & conditions which will minimize paperwork and the money will be deposited securely into user’s bank account.
Expansion of usage:
Google also said it is increasing the number of stores or places where users can transact using Google pay, which will include apps, websites and popular branded stores. Already Goibibo, Redbus, Freshmenu all accept Google Pay and soon support for bookmyshow will be added.
— Google Pay India (@GooglePayIndia) August 28, 2018
Currently the app is used by almost 22 millions users, and according to the Google, 750 million transactions have already been completed since the app’s launch in India in September last year. The app will be having all the old features like instant mobile recharges, gifting options, promotional coupons etc. Users will be happy to know that now they can apply for instant loan with less paper work.
Google is also planning to revamp this product & wants to launch in different countries as well even after the launch of TEZ in India, many Governments have asked google to work with them to launch a similar payments system which is not only robust but secure.