In the wake to establish its foot more strongly in India, Google has rebranded the famous Google Tez app as ‘Google Pay’ by assigning more new features like online loans in it. The launching of the new branding see the partnership with the leading private banks.
Ceasar Sengupta, Google’s general manager talked about the new Google Pay by saying that, “In the coming week, these customers will be able to use Google Pay to taken out a customised loan amount from their banks, with minimal paperwork, and once they accept the bank’s terms, the money is deposited securely and instantly by their bank, into their bank account”.
With Google Pay, customers will be able to get the instant loans online from the leading private banks including Kotak Mahindra Bank, HDFC Bank, ICICI Bank and federal Bank.
Google Tez was launched last September and marked a huge success in the digital India initiative due to which other countries are trying to reach the Google and create a similar app to bring digital payment innovations.
Google said, “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 digital payments innovations to their countries”.
Along with reaching to the individuals, Google is also planning to reach 2000 online merchants and e-commerce websites like Redbus, Mi, Goibibo with other 1500 retail stores like Big Bazaar, FBB and many more.