With increase in it focus on India, Google is entering to localized digital payment service in India. The search giant is all set to launch a Unified Payments Interface (UPI)-based digital payment service called "Tez" as early as next week. The media report also suggest the launch date to be 18 September.

The report further claims that Google ‘Tez’ will offer a comprehensive set of payment options beyond existing products like Google Wallet or Android Pay. Tez, for one thing, will include support for Unified Payments Interface (UPI) — a payment system backed by the government -- and other consumer payment services including Paytm and MobiKwik. Apparently it will be a dedicated app when it arrives.

Other big player to join India's growing digital payment market is Facebook-owned WhatsApp. Other mobile messaging platforms like WeChat and Hike Messenger already support UPI-based payment services. While, India's e-commerce giant Flipkart's owned Phonepe has just recently surpassed most number of UPI transactions in the country so much so that it overtakes Indian government's own UPI-based app BHIM in August.

Notably -- with Tez app -- Google is making a big push into payments outside of the U.S. and probably for the first time outside its home country.

Google in increasingly focusing on India's digital payment market because -- it has a strong consumer presence in India, India's huge growth and potential in same.

According to media reports, while WhatsApp is already in talks with the NPCI and a few banks to facilitate financial transactions via UPI Google had already filed (on 27 June 2017) an application for wordmark 'Tez' Controller General of Patents, Designs, and Trade Marks, a department of India’s commerce and industry ministry

As per RBI data, India saw nearly a billion digital transactions in July (859.2 million to be precise). Besides, the internet user base, anywhere between 370 and 450 million, is consistently growing. Not to forget, India is also the second largest smartphone market in the world. And most importantly, India’s digital payments industry is expected to be worth $500 billion by 2020, as per a report by GSMA and Boston Consulting Group (BCG).

Moreover, Amazon too is planning to launch digital wallet in India and has even gotten a license for same.
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