Google’s online payment platform Tez brings new challenge to its domestic counterparts by offering mobile recharge and bill payment services to users.
Google’s move comes at a time when homegrown players like Paytm and PhonePe are feeling the heat tech giant WhatsApp’s entry into peer-to-peer payments space.
The company has onboarded around 90 merchants onto its platform to provide seamless service.
“Paying your bills could be much simpler — and could save you a lot of time. So today, Tez is adding a specially designed experience that lets you pay your bills in seconds, not minutes. Adding a new biller is a breeze, and you only have to do it once”, stated Google in a blog post.
Tez’s entry into mobile recharge and bill payment services will trigger fierce competition in the segment and is likely to affect local players. The tech giant is incentivising customers for using its payment option.
Google had introduced great offers when the company entered UPI platform last year and grabbed 67% market share in terms of transactions.
With the new move, Google aims top spot in the segment. It has already introduced offers for bill payments.
“Today’s rollout of bill payments on Tez comes with an exciting new offer. For every new biller you pay this month, you’ll get a scratch card that could win you up to Rs 1,000,” said Google.
According to reports, the company is planning to offer more services through Tez to grab a huge customer base in India.