15.4 C
New Delhi
Monday 16 December 2019
Sci-Tech Information Technology Google Tez is now Google Pay, to offer instant...

Google Tez is now Google Pay, to offer instant bank loans

Just like Paytm, Google Pay also offers a number of cashback schemes. Currently, it is offering scratch card (virtual) worth up to Rs 1,000 on paying or receiving Rs 150 or more

New Delhi: In a bid to increase its market share in India’s payments market, Google today rebranded its payments app Google Tez into Google Pay, introduced new features and widened its scope with new tie-ups.

At its annual event Google for India, the tech giant announced its partnership with private banks to facilitate pre-approved loans instantly to Google Pay customers.

Google also announced the partnership with financial institutions such as HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank to facilitate pre-approved loans to customers.

Google had launched Tez in September last year. Based on the government-backed UPI platform, Google Tez allowed users to make and receive peer-to-peer transactions.

Unlike Paytm and other mobile wallets, Google Pay allows users to exchange money directly from their bank accounts. Since its launch, Google Pay has seen over 750 million transactions worth over $30 billion (Rs 200,000 crore).

“In just under a year, Tez has found a place in the lives for more than 22 million people and businesses who use it every month. People from over 300,000 suburban areas, towns and villages are using it to pay their electrician, book bus rides or split dinner bills with friends,” Payments and Next Billion Users Initiative general manager Caesar Sengupta wrote in a blog post.

Google Tez has over more than 50 million downloads on Android Play Store. The application is also available on Apple’s App Store. Let’s take a look at the top features of Google Tez aka Google Pay.

Google says it has 22 million monthly active users on Google Pay who have made over 750 million transactions with an average annual transaction of 2 lakh crore.

As it expands the scope of Google Pay, the service will soon be available at over 2,000 online merchants and e-commerce websites including Redbus, BookMyShow, Mi and Goibibo, besides over 15,000 retail stores like Big Bazaar, e-Zone, and FBB.

Just like Paytm, Google Pay also offers a number of cashback schemes. Currently, it is offering scratch card (virtual) worth up to Rs 1,000 on paying or receiving Rs 150 or more. There’s also a “Lucky Fridays” scratch card that could you win up to Rs 100,000 on sending Rs 500 or more. On paying electricity bills with Google Tez, you are assured Rs 50 cashback. Under the dedicated Rewards section, you can monitor all the money you’ve earned from Google. The company has continued its offer of Rs 51 cashback on referring a friend to Google Tez.

Google CEO Sundar Pichai had said Tez is central to the company’s India strategy and also key to its global payments push. The payments app has localized, supporting several Indian languages, and is chasing young users with games that offer cash back.

Subscribe to our newsletter

You will get all our latest news and articles via email when you subscribe

The email despatches will be non-commercial in nature
Disputes, if any, subject to jurisdiction in New Delhi

Leave a Reply

Opinion

Justice That Is Instant Is Travesty

But neither the state nor society can wash their hands off this social craving for settling scores in the name of doing justice to the victim

Karnataka Voters Punished INC, JDS Leaders

Even the BJP was not confident of the result even as their leaders kept saying for public consumption they were winning all the 15 seats

The United States Of The World

The United States, stereotyped as the land of plenty and plentiful guns, is still a destination of choice for people from across the world

प्याज़ के आँसू न रोएँ — महंगाई से किसान, उपभोक्ता दोनों को फ़ायदा

जिस अल्प मुद्रास्फीति की वजह से वे सरकार से बहुत खुश थे, उसी 1.38 प्रतिशत की खाद्यान्न मुद्रास्फीति के कारण किसानों को अपने पैदावार के लिए समुचित मूल्य नहीं मिल रहे थे

CAB Can Correct Wrongs Of NRC

… if the government can fix the inept bureaucracy and explain what happens to those marked as aliens, as the neighbours are not taking them back
- Advertisement -

Elsewhere

Delhi, Assam, Bengal, Bihar set afire by anti-CAA thugs

In Delhi, suburban Bengal and Patna, the rioters' religious identity was obvious from what they wore, as Prime Minister Narendra Modi said

Rabri Devi accused of domestic violence by daughter-in-law

Aishwarya said that a security worker snatched her mobile phone device at the behest of Rabri Devi to erase evidence of domestic violence and then threw all her belongings out of the house

Savarkar to Sena: Kick out INC from Maharashtra govt

Grandson of the freedom fighter Ranjit Savarkar advised Uddhav Thackeray today that if he were to throw out INC, BJP wouldn't vote against it

Mayawati calls INC bluff on Savarkar

Mayawati said it was duplicitous to curse Savarkar on the one hand and be in a coalition government with a pro-Savarkar party in Maharashtra

NEFT transaction 24×7 beginning 16 December

NEFT is a method of online transaction, in which you can transfer to another bank account up to Rs 2 lakh online at a time

You might also likeRELATED
Recommended to you

For fearless journalism

%d bloggers like this: