Google is planning on introducing a digital payment service in India, a source said.
The payment service will be called Google “Tez” (fast in English).
Tez will offer payment options beyond existing ones like Google Wallet or Android Pay.
“Google Tez will include support for the government-backed Unified Payments Interface (UPI) and other consumer payment services including Paytm and MobiKwik,” the source said.
Google launched its payment app Android Pay in the United States two years ago.
As per sources, Google wishes to make a big push in the Indian market too; Google Tez may not be limited to India.
Google has registered trademarks for the service in Indonesia and the Philippines.
India has become a hot favourite for tech companies to open up payment services in, with Uber, WhatsApp, Truecaller, and Flipkart set to join the list.
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