Google Pay’s ‘Tap To Pay’ Feature For UPI Transactions Can Be A Gamechanger: How It Works? Benefits?
‘Tap to Pay’ Launch
The newly launched functionality brings the convenience of ‘Tap to Pay’ feature offered by debit and credit cards to UPI.
Till now, the ‘Tap to Pay’ feature has been available only for cards.
To launch this feature, Google Pay was in collaboration with Pine Labs.
How Does Google ‘Tap to Pay’ Work?
So with the use of this feature, now simply have to tap their phone on the POS terminal and authenticate the payment from their phone, using their UPI PIN, making the process instantaneous.
The functionality is much smoother than the earlier functionality in which the user has to scan a QR code or enter the UPI-linked mobile number.
Coming to availability, this functionality will be available to any UPI user who is willing to use their NFC-enabled Android smartphone to transact using any Pine Labs Android POS terminal across the country.
In the initial phase, Google piloted the feature with Reliance Retail.
But, now this feature will be available at other large merchants such as Future Retail and Starbucks.
POS terminal across the country. Google piloted the feature with Reliance Retail and will now be available at other large merchants such as Future Retail and Starbucks.
Smarter And Faster Payment Experience
“Fintech growth in India is writing the playbook for the world, first with enabling real-time payments with UPI, and further, by innovating with flows that make the transaction time virtually zero. Tap to Pay for UPI has profound implications for high traffic retail outlets, with queue management hassles poised to be greatly reduced, and taking digital payments at POS well beyond cards. We are very excited to bring this first-ever innovation to India, in collaboration with Pine Labs.” Said Sajith Sivanandan, Business Head, Google Pay and Next Billion User initiatives, Google APAC, while commenting on the development.
“We are delighted to witness the popular Tap and Pay technology being pioneered for UPI. With the growing adoption of UPI, this first-of-its-kind functionality with Google Pay and Pine Labs will augment the customer experience and pave the way for a smarter and faster payment experience. Interoperability has always been a winning proposition for UPI, and this will be a step ahead in transforming the way real-time digital transactions are conducted especially in retail merchants,” said Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI.