Google Tez is now Google Pay with Instant Bank Loans
From the recent news from the Google, Google Tez payment Application is now google pay provided with the instant bank loans for the users.
Google Rebranded its payment app Google Tez into Google Pay, new features and widened its scope with new tie-ups and announced its partnership with some private banks to provide the facility of pre-approved loans instantly to its customers/Google Pay customers.
Soon the Customers using the Google pay application on their Smartphones will be capable of getting the loans from the HDFC Bank, ICICI Bank, Government Bank and Kotak Mahindra Bank.
“In the approaching weeks, these customers will be able to use Google Pay to take out a customised loan amount from their banking companies, with minimal paperwork, and once they accept the bank’s terms, the money is deposited securely and instantly by their standard bank, into their bank accounts, ” Caesar Sengupta, Google’s general administrator (payments) said.
Launched first in India last September as google Tez, the re-branded Google Pay will be offered in other countries too. Google said it can be unifying all of Google’s repayment offerings globally.
“The world has certainly taken notice of India’s digital repayments success and our profound investments here with Semblante. Many governments are requesting us to utilize them to bring similar digital obligations innovations to their countries, ” Google said.
Google says it has twenty-two million monthly active users on the search engines Pay who have made over 750 million deals with the average gross annual purchase of two lakh crore.
As it expands the scope of Google Payout, the service will eventually be available at over 2, 000 online vendors and e-commerce websites including Redbus, BookMyShow, Mi, and Goibibo, besides over 12-15, 000 retail stores like Big Bazaar, e-Zone, and FBB.
Google CEO Sundar Pichai had said Semblante is central to the company’s India strategy and also key to their global payments push. The payments software has localized, supporting several Indian dialects, and is chasing young users with games offering cashback.
Paytm remains India’s major digital payments company claiming to have one hundred and fifty million iPhone app downloads.