Google To Take On Paytm In India, As It Prepares To Launch A Smartphone Payment App In India
Google 'Tez' will reportedly support India's UPI platform.
According to recent reports, Google is reportedly focusing on the ecommerce segment in India, looking to launch a localised payment platform in the country.
A report by The Ken indicates that Google Tez, as it¡¯s supposed to be called, will offer payment options beyond Google¡¯s existing Android Pay and Google Wallet. Tez is expected to support the Indian government¡¯s Unified Payments Interface (UPI), as well as other platforms like Paytm and MobiKwik, and will have a standalone app on launch.
Google has, however, declined to comment on the news so far. The news makes sense however, as Android has a far larger market in India than in countries like the US and UK, as well as being the second largest smartphone market in the world. That, coupled with the Indian government¡¯s recent push towards a cashless society makes us a prime market to tap.
If the government filings uncovered by the publication are correct, it looks like Google will also be looking to eventually expand Tez to Indonesia and the Philippines. With any luck, perhaps we¡¯ll see Tez begin operations in India by the end of the year.
