Google is including more services to its payments app, Google Pay, to engage it’s more billion users. It will be a more expedient and cost-effective way to accumulate gold for those who prefer the Gold in the physical form. Google is not just toying with the idea of selling digital gold but also insurance and mutual funds. It seems that payments platform in India is in for a great fight with Google Pay’s plans to push border lines and offer mutual fund services, digital gold and many more features which Paytm has earlier been offering. You can see the payment option in Paytm app (developed by best app developers) Because Paytm was the first player in payment platform who introduce digital gold to users followed others such as ETMoney, PhonePe, owned by Times internet, a part of Times group which also publishes ET, among others. But the exact push from Amazon Pay, with its offline ‘scans and pays’ service too is going to construct an indentation into the consumer numbers of its rivals. Through the new collaboration, Google will have access to over 333,000 ‘point of sale’ terminals in over 3,000 towns, said by Pine Labs’. Pine Labs’ explanations are used by merchants from sectors like food and beverage, telecom, electronics, airlines, pharmacy, and fashion. It facilitates offline and online last mile retail transactions for over 100 brands. Online store entrepreneurs are focusing to develop apps via android app development companies to grow their business. For offline stores, there are two steps to use the Google Pay’s payment feature- Merchant can instigate a payment request using a Google Pay customers mobile number. In the second step, the user can then authenticate this request through their Google Pay app for the payment to be processed. Customer and Merchant both will get on the spot notification on the completion of a transaction.
Google Pay started out with peer-to-peer transfers and bill payments.
It claims that over 2,000 online merchants, including the likes of Swiggy and BookMyShow, use its services. But as the battle of digital payments has gradually been moving to the physical retail space, the company has sharpened its focus on expanding its offline merchant base. Google has many best app developers, and they laid out facts of its service conditions where it said that users will require complying with full KYC requirements of the country to be able to avail this investment service. “By starting a Gold account on Google Pay you expressly authorize Google Pay to access, use and store gold transaction information…for providing you with services on Google Pay,” said the company in the offer terms.
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