Google is known for renaming their products for a long time. The Google TeZ is no exception here. Recently Google has rebranded Google Tez to Google Pay. Google Pay in India will use the same UPI protocols in India, instead of NFC-based systems used in other countries.
Now, Google pay is one thing, but Google also announced some new features along with it. The users can now request an instant, pre-approved bank loan directly from the bank. Now, that takes Google Pay a step ahead from Paytm, making it the most advanced mobile payment platform in India. The Federal Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank will participate in providing a loan to their valuable customers. All these things are now possible without any paperwork with Google Pay in India.
For now, the bank loan feature is not available. Google will soon, roll out the updates in the next few weeks. Once the updates are out, Google will inform you with a notification in the app itself.
— Google Pay India (@GooglePayIndia) August 28, 2018
In future, Google will integrate the Google Pay in India with a few service providers. Now, we’ve got Jet Airways, FoodPanda, Nykaa, Reliance, Dish TV, redBus, FreshMenu, Croma, Zerodha, Mi, and Goibibo. Google Tez is one of the most unified UPI based systems in India. With this new name, the Google Pay has 22 million active users with 750 million transactions down since their early launch in, September 2017.
These UPI based apps are taking India to one of those cash-free countries. So, are you ready to be a part of UPI or Unified Payments Interface, systems in India? Kindly let us know in the comments section below.