Google has shared a lot of insights and new things coming from its house for the Indian market in the next one year at the 'Google for India' event in New Delhi. At the event, VP of Product Management for the Next Billion Users program at Google, Caesar Sengupta said that the company's sole digital payments platform for the Indian market- Google Tez would surpass 12 million user mark in the next couple of days.
Just a few weeks ago, Google's CEO Sundar Pichai at the company's earnings call said that Google Tez has managed to grab over 7 million users in just five weeks since the service launch in September 2017. And this news comes only after a month. In the meantime, close to 5 million users have joined the service, taking the overall user base to 12 million.
Caesar Sengupta also added that the app had processed 140 million transactions since the official launch, which is 4x growth compared to the average transaction size in the country. Also, Sengupta revealed during the period of October-November, Google Tez accounted for 70% of transactions on BHIM UPI.
Furthermore, it is also said that there are over 5.25 lakh merchants already on board, and several small businesses are already using Tez to make and receive payments. Sengupta appreciated customer's trust on the massive success of Google Tez in India.
Google also announced Tez's significant next step, which is 'Bill Payments' option. Google Tez, starting today supports bill payments directly from the Google Tez application itself. Google also revealed the initial partners such as Airtel, DishTV, Tata Power, ACT Fibernet, Docomo, and several utility providers.
Currently, there are over 70 billers in Google Tez, and the list includes both state and national electricity providers. The best part is the Google Tez itself fetches all the pending bill payments from government services such as gas payment, water payment, etc.
Google also confirmed that the Bill Payments feature would be rolled out starting Tuesday, but it will be available for customers in a phased manner. Users will receive a notification when the feature hits their account. Furthermore, the search giant also confirmed to add more services in the future.
Lastly, Google introduced a new feature dubbed 'Sparks.' According to Google, this feature is a 'little moments of delight,' when a customer enters a specific word or phrase while making a payment.