Mobile Money Heats Up in India as Google Doubles Down

Mobile Money Heats Up in India as Google Doubles Down

Around 40 million new users come online in India every year, not just from metropolitan centers, but from rural areas as well, and latter on an increasing basis.

At the last year's Google for India event, Google has officially launched the UPI-based mobile payment app called Tez in India.

Google's focus towards India was reiterated in its yearly event, Google for India 2018, earlier today.

Though this platform, publishers will have free web hosting, a branded domain name for three years as well as AdSense to support the monetisation of their content. Furthermore, the search giant also said that it will be working with banks to provide instant loans to the users of Google Pay in India.

Google is rebranding and beefing up its Indian payments app Tez ahead of plans to roll it out to other countries. "It's also helpful for multitasking, like following a recipe while cooking a meal, listening to articles while exercising, or catching up on news on your commute", Yossi Matias, VP, Engineering, and Simon Tokumine, Senior Product Manager, write in a Google blog post.

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As for what next, Google has said that it will make Tez... err... The search giant's voice-based virtual assistant will soon support seven more Indian languages. It is partnering with several local banks to offer consumer. Google is partnering with PineLabs, Bill Desk and a list of Indian banks to enable the user of the service inside stores.

Apart from this, Google has also worked with local banks like ICICI, HDFC, Federal and Kotak Mahindra to offer basic pre-approved loans to eligible users. UPI is now the fastest growing payments systems in India.

Keeping the bilingual nature of Indians in mind, Google has made Assistant capable of understanding "Hinglish". The system uses natural language processing, as well as speech synthesis (read: text-to-speech) AI to let users listen to any webpage they want. Hence, local language internet users are expected to account for almost 75% of India's Internet user base by 2021.

Localised Google Maps How many times have you gotten lost using Google Maps because the turn indications are precise enough?

Further, Google said it had now integrated Marathi language, in addition to English and Hindi, with the Google Assistant. "And thanks to a new partnership with RedBus - India" India's largest inter-city bus ticketing service - more than 20,000 routes and 1,500 cities will also be added for intercity bus journey routes.

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