India’s Prime Minister shook up the country late last year when he killed 500-rupee and 1,000-rupee notes and coins (about $7 and $15). People to digital payments, and now Google wants a piece of that action.
The search giant launched a new digital payment app called Google Tez for the Indian market on Monday. The app supports English and seven Indian languages, and is available for both Android and iOS platforms.
Google Tez links to a user’s bank account, like Apple Pay, Android Pay and Samsung Pay do. It lets users make money transfers, receive payments and pay for purchases.
Google said on its website that Tez was made specifically for India, underpinning the growing importance of the populous nation’s rapidly growing tech centre. The tech giant previously estimated India’s e-commerce industry will be worth $100 billion by 2020.
Digital wallets and payment apps have flourished in the last year, with local app Paytm crossing 200 million users in March. Samsung has also attempted to capitalise, bringing its Samsung Pay digital wallet to India in March.
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