Tez is rebranded to Google Pay as Google unifies its payment services

Google Tez rebranded as Google Pay, to offer loans via banks

Google Tez rebranded as Google Pay, to offer loans via banks

"Building for India has often meant Google building for everyone all around the world", Caesar Sengupta, Vice-President, Next Billion Users initiative and Payments, Google.

Instead, the first step in the global expansion plans for Tez is a further consolidation of the search giant's once numerous mobile payment efforts. In the coming days, we will also be seeing Google offering instant loans by partnering with leading banks including HDFC, ICICI, and Kotak Mahindra Bank.

Finally, after reviewing the terms of the loan, the bank will deposit the money in their bank account instantly without the need of any additional paperwork, Google said, according to IANS. Asserting its importance of the Indian market, Google says that it has doubled down the localisation on Google Assistant since launch, and its usage has notably tripled in India since 2016.

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Google launched the Tez app in India previous year and since then over 55 million people have downloaded the app and more than 22 million people and businesses actively use the app for digital transactions every month. They will be able to also monetise their content as Google aims to provide publishers with free web hosting with AdSense support. The company said it will be soon support BookMyShow as well.

Besides, Google is also building and testing more features to help the 1.2 million Indian local businesses on Google Pay. Google made the announcement during Google for India Event today. Google Station is partnering Andhra Pradesh State FiberNet Limited to cover over 12,000 villages, towns and cities in the state of Andhra Pradesh, potentially reaching 10 million people. Google has announced the Android Pie Go edition as an upgrade to Android Oreo Go Edition. It will support 28 languages including Hindi, Bengali, Malayalam, Marathi and Tamil - even on slow 2G internet.

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