Google Pay Leaps Beyond UPI; Debit/Credit Card Payment Coming Soon Via Google Pay

Digital Payments in India have witnessed a tremendous change since the government announced the surprise demonetization in 2016. With more and more companies joining the list of digital payment solutions, such as Facebook Payment, Whatsapp Payment, Amazon Pay, PhonePe, Paytm, it is triggering a new revolution in the digital payment sector.

Especially in a country like India where there is potential because of the huge user base and diversity.

Google Pay to Pave the Way for Omnichannel Payment services

Google Pay, which currently uses UPI to facilitate payments, is soon going to offer Indian consumers the option to pay through debit or credit card saved on its platform.

At the IO19 developers’ conference in San Francisco last week, Avnish Miduthuri, product manager at Google, announced that the tech giant is not only working on adding a number of places where Google Pay will work but is also working on increasing the ways of paying through the app.

These changes are aimed to help users have a smooth shopping experience without having to leave the app.

What’s In Store For Users

Google is launching a single software development kit (SDK) for merchants and developers that will allow the users to make payments across the platform.

The kit is yet to be launched in India, but the technology giant has big plans for the Indian consumers. According to the top executive, users can now pay through different instruments beyond UPI.

Google Pay’s Rivals – Paytm and Flipkart owned PhonePe already provide their users with the facility of linking their debit and credit card to the app, whereas you need a Gmail account to use Google Pay.

The Advantages of using Google Pay

  • Google Pay to facilitate payment via credit card, gift cards or other instruments.
  • It will become payment aggregator for consumers, whereas for merchants, once they integrate with Google Pay they can get other payment modes in one shot

Facts and Figures of GooglePay

There has been a huge growth in Google Pay in India since it was launched as Google Tez in September 2017.

  • As per reports, Google Pay has currently 45 million monthly active users on the app in India itself.
  • It has more than 2000 merchant partners in India
  • According to Mr. Miduthuri, Google Pay accounts for more than 15% of the transactions on platforms such as Redbus

Operation of Google Pay Without Authorisation?

Delhi High Court has asked RBI, regarding the legality of Google’s Pay operation in India. The question came after a petition was filed against Google Pay for violation of “Payment and Settlement Act” as its name was not in the official list of RBI that enlist all the entities which have been authorized to conduct payment in India.

Petitioners have raised privacy concerns, claiming Google Pay has unmonitored and unauthorised access to personal information can use the same for their monetary gains.

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