Now Google will give you loan

On Aug 28, 2018

@npnews24x7

The google app ‘Tez’ has changed its name to ‘Google Pay’. Mobile payment app just like BHIM app, who gives you Rs. 50 when you install the app got famous in no time, the app was of online giant company Google. The app works on the Unified Payment Interface.

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The Google online payment app has introduced new features that could soon help its Indian users get instant “pre-approved” loans from some banks.

Caesar Sengupta, vice-president, Next Billion Users Initiative and Payments, Google, said at its annual Google for India “Building for India has often meant Google building for everyone all around the world,”

“At the moment, nothing is changing about the experience in India other than the name,” he said, adding that Google is working with a few of India’s top banks, HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank, to offer pre-approved, instant loans to their customers, right from within Google Pay.

“The many things that you love about the app – the familiar contacts on your home screen, the one-touch mobile recharges, and of course the fun offers and rewards – are all here to stay. In fact, over time we’ll bring many of these features to Google Pay users in other countries just as we’ll bring features we have launched elsewhere to India,” Sengupta added

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While stating that Tez is being used by more than 1.2 million small businesses, the company intends to partner over 15,000 retail stores by Diwali. The statement suggests that Google Pay worldwide will be based on the app’s India model.

Google launched the Tez app in India last year and since then over 55 million people have downloaded the app and more than 22 million people and businesses actively use the app for digital transactions every month. Google Pay works with all major banks in India on BHIM UPI (Unified Payments Interface).