Chennai: Money transactions platform Google Pay expanded its network by releasing, Google Pay for Business. The move is to digitally empower India’s small and medium business community with initiatives like Google My Business service, the internet giant said in a press release.
Speaking here in Chennai, 7 November, managing director and business head – Google Pay and NBU initiatives, Sajith Sivanandan interacted with media persons to discuss the growth of Google Pay since its launch here in India and features that are available in Google Pay for Business. “India is undergoing great economic transformation,” said Sajith. “With Google Pay for Business, we aim to ease their path to going digital and tapping the massive consumer opportunity with digital payments, created on the back of the massive growth of UPI in the country.”
According to a press release, Google Pay is accepted by over 3,000 online merchants spanning food delivery, travel, movie and event tickets, even trading and investments. It also noted that Google Pay has collaborated with Pine Labs and Innoviti to enable UPI payments across a massive footprint of POS terminals across country spanning 2 lakh stores in over 3,500 cities and towns. Google Pay achieved three times user growth in 12 months from 22 million monthly active users in September 2018 to 67 million monthly active users in September 2019.
Explaining further about features in Google Pay for Business, Sajith showed a demo video of how merchants can sign up to the platform via video verification. Merchants need to say their name, show the interiors of the store and the name board of their store to get verified. Sajith then spoke about the security features. “Google’s expertise in security and machine learning backs every transaction and it’s working 24/7 to help detect spam, fraud, prevent hacking, and verify and protect the identity of every user,” he said and added, “Google Pay works closely with well-known banks and follows the same safety and security best practices as banks, along with an added layer of Google security, such as passcodes or fingerprint IDs, as well as a Google PIN code.”