google tez

Google launched its payment app Google Tez, last September, and after almost a year, it has earned as many as 22 million monthly active users, having done over 750 million transactions. On Tuesday, Google has announced the re-branding of Google Tez as Google Pay, at its annual event, Google for India.

Noticeably, the Google-created app operates on the Unified Payments Interface (UPI) and in a year, there have been the transactions of an annual average of 2 lakh crore. The rebranding of the app has also got many new features added to it. Google has announced its partnership with the private banks in India, including ICICI, Kotak Mahendra, HDFC, etc. that will offer an easy loan through Google Pay app. The users will be able to get their loan sanctioned in a few clicks, with a minimal paperwork. After all the verification work, the bank will transfer the money into the user’s account instantly and safely.

After the success of Google Pay in India, various other countries have also shown their interest in the Google’s payment app and contacted Google to work with them for their payment app development. Google has also announced that the app will be working globally soon, and will also be available for the online merchants like RedBus, BookMyShow, MakeMyTrip, GoIbibo, Freshmenu, etc.

Caesar Sengupta, the manager at Google Pay, said at the event that the app is created for India, so the features can be modified for other countries. Also, with the rebranding, some global features will be added to the Indian Google Pay app. He also stated that in future Google Pay is also going to help more than 1.2 million local businesses in India.