Google India at the “Google for India 2018” convention has announced that their payments service Tez will be rebranded as Google Pay. The new move from Google is to use the unifying payments service in countries other than India, as well.
Apart from the name, the rest of the interface remains the same. Features such as sending gifts with Happy Birthday Spark to friends, paying a merchant directly from your bank account remain unchanged. Google has also announced that in coming weeks the app will receive updates which would introduce new services for merchants, wherein users can use the payment service at more places.
Google is working with banks to provide instant loans to Google Pay users. Currently, Tez is used by over 1.2 million small businesses. Google plans on expanding the service by partnering with 15,000 plus retail stores by Diwali. The company has also added that Tez, since its launch in September 2017, the payments service was used by over 22 million people and businesses to make over 750 million transactions, which are collectively over USD 30 billion, annually.
Commenting on the Tez upgrade, Caesar Sengupta, vice president of product management, Google India, said that building apps in India implies that Google would be building for a global audience.