Google will launch a payment app in India on September 18, 2017, with this Google will make an entry in India’s most competitive digital payment market. The Google may launch this app as soon as next week through its Alphabet Inc’s subsidiary, according to the website Google’s new app is more like an Android Pay just with a different name TEZ (which means fast in Hindi). Google is reportedly talking to Unified Payments Interface (UPI) for launching the payment app.
The app is multi-layered, and according to The Ken the app will offer the comprehensive set of payment option in India, the UPI is a single-window mobile payment system, launched by the National Payment Corporation of India. Moreover, it will also include support from other consumer payment services, like Paytm and MobiKwik.
Other upcoming and Payment Apps in The Market –
Facebook owned Whatsapp – It’s been a while that Whatsapp is in the news regarding working towards a UPI-based interface on its platform, according to the reports few banks and NPCI are already talking to the messaging platform about the financial transaction through UPI, Whatsapp is giving shape to its plan towards bank-to-bank transfer using UPI system, if blogs and websites are to be trust.
Airtel Money – Airtel has collaborated with Infosys and SmartTrust to develop a new m-commerce platform called Airtel Money, it was launched on 5 April 2012, at Infosys headquarters in Bangalore. An Airtel Money user can do many things on the mobile phone like, pay a bill, transfer money and many other financial transactions, few charges are applied as per Airtel Money transaction. Airtel also has Airtel Payment bank, it was the first company in India to receive a Payment Bank license from the Reserve Bank of India.
FreeCharge – Freecharge is an app that gives the user facility to recharge any prepaid mobile phone, postpaid mobile, DTH & Data Cards in India, the e-commerce website has its headquarters in Mumbai Maharashtra, on July 27, 2017, Axis Bank acquired FreeCharge for $60 million.
JioMoney – Jio launched its digital payment app named as JioMoney, it gives great offers and discounts, shopping has also made easy as the user can visit their recent website frequently so shopping can be made quicker.
Paytm – Paytm was launched in August 2010 it is an Indian electronic payment and e-commerce brand based out of Delhi NCR, India. It also gives services like Paytm payment gateway and the Paytm wallet, the full-form of Paytm is “pay through mobile”, as of January 2017 company has 13,000 employees and 3 million offline merchants across India.
Content by: Tohid Sheikh
