Google is joining forces with Indian banks to help spread its digital payments service. The Google Pay service is rebrand of the company’s Tez payments app launched the next five years and has 22 million monthly active users and is integrated with India’s state-backed unified payments interface. Its partner banks are Federal, HDFC, ICICI and Kotak Mahindra. The service could challenge Indian firm Paytm. Credit Suisse predicts India's digital payments space will grow five-fold over last year, to $1trn.
Google is joining forces with Indian banks to help spread its digital payments service. The Google Pay service is rebrand of the company’s Tez payments app launched last year and has 22 million monthly active users and is integrated with India’s state-backed unified payments interface. Its partner banks are Federal, HDFC, ICICI and Kotak Mahindra. The service could challenge Indian firm Paytm. Credit Suisse predicts India's digital payments space will grow five-fold over the next five years, to $1trn.