It has not been smooth sail for both Android Pay and Google Wallet in recent months—the competition from other digital payment providers has been tough. It was not actually so from the beginning—Google Wallet for instance was the app of choice for many users making NFC payments at stores. Things started changing when in 2015 Google introduced Android Pay, which eventually took on NFC payments. To provide better services and probably compete at the same level with its rivals, Google today announced a new product called Google Pay.
“Today, we’re excited to announce we’ll be bringing together all the different ways to pay with Google, including Android Pay and Google Wallet, into a single brand: Google Pay,” Pali Bhat VP of Product Management, Payments wrote in a blog post.
What’s Google Pay?
Google Pay is a new brand that combines the services Android Pay and Google Wallet. Going forward, you will be able to make in-store payments, money transfers, and online transactions all from a single app [Google Pay]. Google Pay will also be able to fill in your payment details if you use Chrome.
Google Pay, according to the Mountain View California-based tech giant is now available on Airbnb, Dice, Fandango, HungryHouse, Instacart, and other apps and websites. The company is also giving away some juicy offers to help users save money and time.
Google Pay is still in its early stage of roll out, and things will gradually take shape in the coming days.
“With Google Pay, it’ll be easier for you to use the payment information saved to your Google Account, so you can speed through checkout with peace of mind. Over the coming weeks, you’ll see Google Pay online, in store, and across Google products, as well as when you’re paying friends.”
Last September Google launched a new payment app called Tez designed for the Indian market. Tez is translated to mean “fast” in Hindi, and comes with a digital wallet that will enable users in India to store currency.
Tez uses UPI (Unified Payments Interface) and is designed to work with all major banks, including Axis, HDFC Bank, ICICI and State Bank of India. Since it uses UPI, the new app will allow you to transfer money to other users at no cost. You will be able to enjoy a simplified checkout system while using Tez. Credit card support and third-party wallets have also been added to enable the new platform compete with popular wallets like Paytm and Mobikwik.
With Tez, you can pay directly from your bank account, and continue to earn interest while you do so. This does not only make your money safe, it also means you can continue to earn interest while doing so.
The Tez Shield works 24/7 to help detect fraud, prevent hacking, and verify your identity. Each transaction is secured with your UPI PIN and the app is secured with a Google PIN or your screen lock method such as fingerprint.