Google Tez renamed as Google Pay, now loan facility will also be available

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Google for India 2018 event took place today in New Delhi. During the Google for India 2018 event, the company changed the name of its payment app Google Tez. Now Google Tez will be known as Google Pay. Google aims to have Google Pay available at 1,50,000 retail stores in India by Diwali 2018. Businesses and merchants will be able to pay for Google Ads through Google Pay. Google has claimed that more than 12 lakh small business people in India are using Google Tez (Google Pay). Users will also get loan facility through Google Pay. For this, the company has partnered with Federal Bank, HDFC Bank and select banks. The loan amount will be pre-approved. This amount will be given to bank consumers through the bank.

During the Google for India 2018 event, Caesar Sengupta, Vice President, Next Billion Users, said, everything you love about the app has not been changed in any way, it will remain the same. At the Google for India 2018 event, the company has also announced that 22 million people use Google Tez every month. Since its launch in September last year, a total of transactions worth Rs 75 crore have been done through the app. The company has claimed that after the launch of Google Tez, BHIM UPI transactions have increased by 14 times every month. In March this year, Google added the chat feature to the Google Tez app. With the help of this feature, users can talk to any other person present in their phone book.

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