Wednesday, 29 August 2018

Tez is now Google Pay

Google Pay — the next step in the Tez journey

The world has certainly taken notice of India’s digital payments success and our deep investments here with Tez. 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.

This change is not just an indication of user traction in India, it also paves the way for you to use Google Pay in more places on the web, apps, in stores and across Google products, so that payments can be seamless in everything you do.

More places to pay for users

The number of places you can pay with Google Pay will be greatly expanding — online on apps and website, as well as branded retail stores. For online merchants, you can already use Google Pay to transact securely at places like Goibibo, FreshMenu, redBus and in over two thousand other online apps and sites.  And in the coming weeks, we will be adding more partners, including deeper integrations with BookMyshow.

For big brands, we’re working with the largest stores so you can pay in retail locations across India. Later this year, you should be able to use Google Pay at thousands of your favorite retail stores, like Big Bazaar, e-Zone, and FBB.

Powering small businesses to help them grow

We also want to help the 1.2 million Indian local businesses on Google Pay with more than just payments. That’s why we’re building a dedicated merchant experience to help them grow their business. In addition to receiving digital payments using their phones, this will help them be discovered through Google Search and Maps, and communicate with their customers through messages and offers. We are testing these features with merchants in Bangalore and Delhi, and onboarding more neighbourhoods in the following months.

Accelerating financial inclusion

The mission of Google Pay is to make money simple, and we are starting to think about how we go beyond payments to accelerate financial inclusion. 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. In the coming weeks, these customers will be able to use Google Pay to take out a customised 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. 

When we build for India and next billion user markets, we are building for everyone. India is now one of the world leaders in digital payments innovation, and we’re even more motivated to continue our efforts to support India’s digital transformation. 

By Caesar Sengupta GM, Payments and Next Billion Users Initiative

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