Google is rebranding its India-oriented payment app Tez, as it looks to push it into more markets, the company confirmed on its website.
Tez, which launched a year ago, is now called Google Pay, which means the service will now fall under its global payment app, currently available in 20 countries around the world.
Cosmetic changes aside, Indians will be able to use Google Pay for more than bill and utility payments – it was said that it will be available for retail purchases as well. Both online and offline, it was added. Besides, Google said it will be working with banks, to provide instant loans to Google Pay users.
Since its launch in September last year, Tez was used by more than 22 million people and businesses, Google said in a blog post. More than 750 million transactions have been made, collectively worth more than $30 billion on a yearly basis.
TechCrunch adds that roughly 2,000 apps and websites are supported. That includes Goibibo and RedBus, while Uber and BookMyShow are in the pipeline. In-store payment support for Big Bazaar, e-Zone and FBB is also on the cards.
India is a huge market, one with stiff competition from Paytm, Mobikwik and WhatsApp.
Tez currently sits with 55 million downloads.
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