Alphabet Inc (GOOGL) Will Soon Enter India's Mobile Payments Space

Alphabet Inc (GOOGL) Will Soon Enter India's Mobile Payments Space

Getting on the digital payments bandwagon in India, Google has announced to launch a similar service in the country.

Google already has the Android Pay payment gateway, but now it looks like it has turned its heads towards India and the Tech-Giant is looking to launch a new Payment service called "Tez." .

As TechCrunch notes, "this is a big deal because Google hasn't made a big push into payments outside of the U.S". It is in the news that WhatsApp will soon support UPI based payment transfer. This app may work like android pay. It has been in talks with the National Payments Corporation of India (NPCI) to provide UPI-enabled payment on its platform for quite some while now.

Digital payment apps have been gaining popularity in India ever since the demonetization drive launched in November past year by the NDA government, led by Prime Minister Modi.

To recall, currently, Truecaller also started payment on its own app in India.

According to a blog website WABetaInfo, Whatsapp is getting close to integrate bank-to-bank payments on its platform. The Google India is already sending out press invitations for the event which is going held at Delhi. However, this does mean that the company will have to partner with a local bank in the country in order to utilize the UPI payments system. Besides supporting the government-backed Unified Payments Interface (UPI), Tez is said to be equipped with integration of third-party payment wallets such as Paytm and MobiKwik, in addition to a few others on its platform. The app will also be integrated into other apps to allow easier payments.

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