Google Tez to Now Be Called Google Pay, Pre-Approved Loans Coming to the Platform

Google Tez will now be rebranded to Google Pay, the organization declared at the 2018 release of the Google for India occasion held in New Delhi on Tuesday. Rich collaborations are coming to Google Pay, and Google means to enable 15,000 retail locations in India to utilize Google Pay by Diwali 2018. Also, organizations and shippers would now be able to pay for Google Ads utilizing Google Pay. Google guarantees that more than 1.2 million private companies in India are now utilizing Google Tez (now rebranded as Google Pay).

"Everything you cherish will stay same," said Caesar Sengupta, GM, Payments and Next Billion Users Initiative at Google, at the occasion accentuating the way this is a unimportant rebranding exercise and not the weakening of a prior administration.

"The numerous things that you adore about the application - the well-known contacts on your homescreen, the one-contact versatile revives, and obviously the fun offers and rewards - are on the whole setting down deep roots. Truth be told, after some time we'll convey a considerable lot of these highlights to Google Pay clients in different nations similarly as we'll convey highlights we have propelled somewhere else to India," Sengupta included a blog entry.

Google Pay is getting mix for credits as a team with Federal Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and others. The credits will be pre-endorsed and will be offered just to bank clients through the banks. Google Pay will basically fill in as a mediator. The pre-affirmed advances begin showing up in the application in the coming weeks.

At the occasion, the tech mammoth reported that 22 million individuals currently utilize Google Tez consistently and have made an aggregate of 750 million exchanges since dispatch in September a year ago. The organization likewise asserted that month to month BHIM UPI exchanges have grown 14x since the dispatch of Google Tez.

The rebranding rollout will finish in the following couple of weeks. Shippers will get the choice to empower installments straightforwardly from their application where clients can simply swipe the Pay catch to make installments to their adjacent vendors. There will likewise be an alternative to demonstrate a QR code to clients to make consistent installments. The dealers will get exchange history on their application alongside the photo and name of the clients and the sum they've paid and in addition the exchange ID for every exchange occurred before.

Back in March this year, Google Tez had included a straightforward visit highlight enabling clients to speak with their contacts nearby at the same time sending and getting cash through UPI.