Google Tez has been revamped, and its updates were announced at today’s ‘Google for India 2018’ event being held in New Delhi. Among other things, Tez has been renamed Google Pay, and users will also be able to pay instant loans through the service. As part of this service, Google will partner with leading banks.
While stating that Tez is being used by more than 1.2 million small businesses, the company intends to partner over 15,000 retail stores by Diwali. 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. The statement suggests that Google Pay worldwide will be based on the app’s India model.
Meanwhile, Google Pay will continue to offer instant mobile recharges, gifting options like a birthday gift, as well as promotional coupons that vary with different payments. Currently, the app is used by over 22 million users, and Google has claimed that over 750 million transactions have been completed since the app’s launch in September last year.