Google rebrands Indian payments app Tez ahead of global expansion

Google rebrands Indian payments app Tez ahead of global expansion

Google is rebranding and beefing up its Indian payments app Tez ahead of plans to roll it out to other countries.

Launched last September, Tez utilises India's Unified Payments Interface to enable smartphone users to send money to each other and pay for goods and services both offline and online.

The app has been used by over 22 million people and businesses to make over 750 million transactions that are collectively worth over $30 billion annually.

Tez is now being rebranded as Google Pay, bringing it in line with the payment services Google offers in other countries ahead of plans to take the Indian service to new places.

Caesar Sengupta GM, Payments and Next Billion Users Initiative, Google, says: "We have learnt that when we build for India, we build for the world, and we believe that many of the innovations and features we have pioneered with Tez will work globally.

"The world has certainly taken notice of India’s digital payments success and our deep investments here with Tez. Many governments are asking us to work with them to bring similar digital payments innovations to their countries."

Meanwhile, Google is working with banks such as HDFC and Icici to provide instant loans to users from within the app, while more merchants are also being signed up to accept payments.

Comments: (1)

A Finextra member
A Finextra member 29 August, 2018, 00:44Be the first to give this comment the thumbs up 0 likes

You can learn a lot with 22 million users!  Well played Google your G Pay is far more egalitarian than Apple’s restriction with their SE and their insistence on better security...well I'm not hearing too many issues with G Pay security!