Google is reportedly releasing a localized mobile payment service in India

TechCrunch | 9/13/2017 | Jon Russell
leeann77 (Posted by) Level 3
Click For Photo: https://tctechcrunch2011.files.wordpress.com/2017/08/google-sign.jpg

Google is increasing its focus on India with plans to introduce a localized digital payment service as soon as next week, according to a report from India-based news site The Ken.

The publication claims Google ‘Tez’ — meaning fast in India — will launch next week offering a comprehensive set of payment options beyond existing products like Google Wallet or Android Pay. Tez, for one thing, will include support for Unified Payments Interface (UPI) — a payment system backed by the government — and other consumer payment services including Paytm and MobiKwik. Apparently it will be a dedicated app when it arrives.

Google

Google declined to comment.

This is a big deal because Google hasn’t made a big push into payments outside of the U.S. and, while it has a strong consumer presence in India, revenue from the country is nothing to write home about. Yet.

Plenty - Beyond - India - Base - Phone

There’s plenty to be bullish on. Beyond India’s fast growing internet user base and phone sales, which have already made it the world’s second largest smartphone market, the digital payments space is tipped to rocket to $500 billion per...
(Excerpt) Read more at: TechCrunch
0 other people are viewing this story
Wake Up To Breaking News!
Sign In or Register to comment.