Google for India: Payments app Google Tez is now 'Google Pay'Aug 28 (AZINS) Google has rebranded its payments app Google Tez into Google Pay and introduced new features. Additionally, the tech giant also announced its partnership with private banks to facilitate pre-approved loans instantly to Google Pay customers.

Google mentioned that since launching payments app Tez last September, over 22 million people and businesses have used Tez to make over 750 million transactions that are collectively worth over $30 billion annually.

The company mentioned in a blog post, “We believe that many of the innovations and features we have pioneered with Tez will work in other countries. To take Tez beyond India, we will be unifying all of Google’s payment offerings globally. As a first step, Tez will now be called Google Pay.”

The number of places you can pay with Google Pay will be expanding — online on apps and website, as well as branded retail stores. For online merchants, you can use Google Pay to transact at places like Goibibo, FreshMenu, redBus and other online apps and sites.  The company will be adding more partners, including deeper integrations with BookMyshow. Later this year, customers will be able to use Google Pay at various retail stores, like Big Bazaar, e-Zone, and FBB.

It has also been revealed that using the Google Pay app now customers will in comeing time be able to get loans from HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank.

There has been an increase in adoption of digital payments in the country, especially after the government's move to ban high-denomination currency. Mobile wallets like Paytm and payments through credit and debit cards saw a surge. In the past few months, companies like Flipkart, Ola and Uber have embraced UPI to allow users to pay through the new medium on their respective apps.