Many people keep asking is google pay in India and the answer is Yes. Google Pay for iPad and iPhone are only available in India and USA. Have you ever wondered why Google Pay India has become so popular? Below are some things you need to know about the UPI-based payment system.
India has become accustomed to sending and receiving money online. A number of digital wallets have been introducing unique features and enhancing their user interfaces. The company brought Tez into the league of digital wallets and handled the entire payment system in India.
In response to the ever-growing UPI payments market in India, Google rebranded the Tez app as Google Pay. With its array of amazing features, Google Pay’s UPI-based digital payment system will revolutionize India’s payments market.
After just over two years of being launched in India, Google Pay has attracted tremendous popularity as a world-class security system. In September 2019, the app had 67 million monthly active users and drove transactions valued at over US$110 billion on a yearly basis. Google Pay led all UPI services in India in terms of digital transactions in 2019, according to a Razorpay report. BHIM (6%), PhonePay (26%), and Paytm (7%) followed.
How does Google Pay India work?
Unlike other digital wallets, the Google Pay app allows users to send and receive money directly into their bank accounts. In this way, all the concerns about money being received in wallets and then transferred to bank accounts are removed.
People can receive payments using Google Pay regardless of whether they are using the app. You can also send money using Google Pay via their website.
The app is primarily designed to facilitate simple money transfer transactions. However, users can also use it in stores that accept UPI-based payments.
To use it in such a store, users must follow these steps:
1. Sign up for Google Pay with your bank account
2. Create your UPI pin
What are the unique features of Google Pay in India?
Google Pay stands out from all the other options on the market thanks to its unique features. These include:
1. Free and instant transactions
2. Direct payments to and from bank accounts
3. You can also transfer money to people who do not use Google Pay
4. Secure transactions are facilitated by highly skilled experts on call 24*7 using Google Pay’s multi-layered security and comprehensive support.
5. Using a UPI-linked app, you can complete all transactions, whether they are small or large since the money is transferred from bank accounts
6. You can use the app in eight different Indian languages, which makes it easier to use for almost everyone.
7. Additionally, the app offers multiple payment methods, including Virtual Payment Addresses (VPAs), UPI IDs, QR codes, and more.
8. Furthermore, Google Pay offers lucrative cashback and rewards for varying transactions through scratch cards. A linked bank account is credited directly with the cash back.
9. Further proof of the app’s security, network reach, and service quality is its compatibility with all banks
10. Besides paying utility bills and mobile recharge, it can also be used to shop for products online, pay insurance premiums, and pay taxes.
11. In addition, Google Pay has partnered with Kotak Bank, HDFC Bank, and ICICI Bank to offer loans through the app.
Google Pay vs other UPI apps in India
India’s money transfer and payment market is greatly streamlined with Google Pay, as it is more customized. The screen lock can be unlocked by entering a Google PIN or password or drawing our existing pattern.
Businesses can now take advantage of Google Pay, a special app with enticing terms of service that allows business owners to offer amazing deals and connect directly with customers. Customers can pay up to Rs 50,000 to companies that link their current accounts to the app.
Another unique feature of Google Pay is Cash Mode. A Google Pay user can transfer money to another Google Pay user nearby without entering their phone number or bank details.
As part of the collaboration, Google Pay is also offering recurring payments through the National Payments Corporation of India (NCPI). By opting in for automatic payments, customers will be able to pay their utility bills, loans, subscriptions, insurance premiums, and many other recurring accounts automatically each month.
With Google Pay, India’s payments market is about to become more advanced and seamless. If consumers/users don’t join the UPI bandwagon being led by Google Pay, they will miss a host of features and easy money transfer transactions.