Formerly known as Tez, Google has recently rebranded it as Google Pay to collaborate with Google’s other payment services. It’s an UPI (Unified Payment Interface) based digital payments app.
It’s been more than a year since its launch and has crossed over 500 million downloads proving to be the simplest way to pay and receive money right from your bank account.
Google Pay Statistics in India (July 2024)
- Ranked 2nd most used UPI app in India after PhonePe
- Total Transactions by Volume: 5341.23 million
- Total Transactions by Value: ₹735,159.20 crore
- Total Downloads on Google Play Store: More than 1 billion
- Google Pay has more than 150 million users globally
Sources: NPCI | Google Pay Product Updates
Google payment service expanded some of the features making it more competitive among the other digital payment services out there.
Here’s everything you need to know about.
How Google Pay Works?
Google Pay, abbreviated as G Pay, uses Near Field Communication (NFC) to facilitate fund transfer to the retailer. The payment service allows the user for wireless communication using a host-based card emulation and Android security. To activate Google pay, it requires physical biometrics such as fingerprints or can be authenticated with a passcode.
During the transaction, it keeps the sender’s account information confidential and generates a virtual account number instead of the card details.
Google Pay App Features
Google Pay offers a number of payment facilities to keep up with the upcoming digital era and payment system. Let’s find out more about this.
- Tap-to-Pay from Bank: Send money safely to your friends, family or anybody directly from the bank with a security PIN at no extra cost. You can personalize your payment screen with attractive graphics provided in the app.
- UPI Payment App: Google Pay has tied up to all major banks of India who supports BHIM UPI linked with your mobile number to make it secure and simple.
- Get Rewards and Offers: Earn scratch cards on doing transactions in the app. Also, check up on the invite and earn offer for the first transaction on Google Pay App.
- Transfer Money to anyone Nearby: Use Tez mode to transfer money keeping your bank details private and no additional KYC.
- Paying Online with GPay: Securely pay using your Google Pay UPI ID on check out through an online payment gateway. BHIM UPI is accepted mostly everywhere (online & offline merchants) nowadays. You can also buy Google Play credits using Google Pay.
- Pay to the Shops: Slide on Tez mode to instantly pay for your shopping from the nearest grocery store, salon or other stores.
- Receive Money Directly in Your Bank Account: You can receive money from your friends & family and get it credited in your bank account directly.
- Pay Anyone not using G Pay: Directly transfers the money using UPI ID or bank account number of the recipient not registered on Google Pay
- Paying Bills: Pay your utility bills such as electricity, gas, property tax, water, insurance, and DTH recharge within a click and ease.
- Chat before Payment: Wave or Say “Hi” to the receiver end before you initiate the new payment or transaction.
How to Use Google Pay?
Google Pay is very simple to use. Once you download the app from the Play Store, set up a screen lock that can be an existing pin or a pattern lock or fingerprint scan.
Click on “Add Bank Account” and select the bank from the list. If your mobile number is already linked to the bank account, you can easily verify it with a one-time security code and activate your account.
Safety Tips on Using UPI Apps like Google Pay or PhonePe
- Do NOT share your UPI PIN with anyone.
- You can share your UPI ID or linked mobile number to collect payments. But there’s no need to share UPI PIN to receive the payment.
- Double check payment details like amount and sender info. before approving any UPI payment requests.
- Only approve the payment request, if you trust the requestor.
- Do not share your credit card or debit card details.
- Never forward your OTP or card CVV details with anyone.
- Limit third party access to your mobile device.
Wrapping Up
We hope reading this article added to your knowledge of using Google Pay for digital payment needs. It’s available for both Android and iOS.
Android: Download on Google Play
iOS: Download on the App Store
Do let us know in the comments section below if we missed out on any details and suggest the next topic you would love to read about.
