Google Payment Investment To Mobile Wallet
Google Payment is becoming hotter and hotter in the world, especially in India.
Google launched a mobile payment application called Tez for the Indian market, which connects users’ smartphones to their bank accounts through the Indian Unified Payment Interface (UPI). Tez can be used in Google Android system or Apple’s iOS system.
The current payment method for Indians is mainly paid in cash. “I believe that in our lifetime we will witness the digital transformation of the Indian economy,” said Caesar Sengutta, who is in charge of Google’s entry into emerging markets. “In many areas, we will see India go beyond the West. The item barcode scanner will be the mobile payment area. ”
As with other mobile payment applications, Tez will allow users to send cash to each other and pay to the vendor who owns the application.
Google launched a mobile payment application called Tez for the Indian market, which connects users’ smartphones to their bank accounts through the Indian Unified Payment Interface (UPI). Tez can be used in Google Android system or Apple’s iOS system.
The current payment method for Indians is mainly paid in cash. “I believe that in our lifetime we will witness the digital transformation of the Indian economy,” said Caesar Sengutta, who is in charge of Google’s entry into emerging markets. “In many areas, we will see India go beyond the West. The item barcode scanner will be the mobile payment area. ”
As with other mobile payment applications, Tez will allow users to send cash to each other and pay to the vendor who owns the application.
In November last year, the Indian government banned all Rs 500 and Rs 1,000, which was the largest of the two currencies in India. Many people have since turned to mobile payments. Indian Finance Minister Alan Jeterley recently in Google’s mobile payment application conference, said: “The initial impulse into a convenient, and ultimately become the Indian people’s spending habits.”
In India, several top global companies have begun to take action, hoping to win 400 million Internet users in the field of mobile payment support. Facebook has more than 200 million users per month in India, and the company is preparing to offer mobile payments on WhatsApp. Other competitors include Alibaba and India’s e-commerce giant Flipkart.
Tez marks the new movement of Google into India. In India, about 900 million people are not online yet. Google is offering free WiFi for more than 100 Indian train stations and launched an offline version of YouTube last year in India.
Google is also ready to use mobile payment applications to further attract Indian non-English crowd. The Tez application will include seven Indian languages – Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Tauru. Google also said that the application in the future will be similar to India’s emerging markets.
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