“Google Pay is the simplest possible way to send and receive money directly from your bank account, without any iextra charges. It is built for India, with all the features and rewards India loves. Be it sending money to your home, paying your rent, recharging your phone, or even your ₹17+₹10 bill at your chaiwala 😉*, we got it all covered”*
Google has always been the most frequent name on everyone’s mouth whenever discussing anything on the internet. With the introduction of Unified Payment Interface (UPI) gaining popularity in 2017, Google zeroed in on yet another opportunity to become a constant name among the public and came up with Google Tez, which later on 28th August 2018 was renamed as Google Pay.
As of September 2021, Google Pay contributed 36% of the total UPI Transactions, clocking in a whopping 1.3 Billion transactions worth INR 2.5 Lakh Crores. [source]
Google Pay was developed with the motive of making cashless transactions “the thing.” To make sure they delivered this, they made all transactions free of charge. People could now transact directly to and from their bank accounts, manage multiple accounts in the same app. Below are some of the hassles Google Pay eliminated from people’s life through their offerings:
🚴🏻 Trips to the ATM
🏦 Togging across several mobile banking apps to check balances on different accounts
🪙 Looking for change for purchases with odd amounts
… and a lot more
When a person completes his or her first transaction through Google Pay.
Sounds like too simple to make someone realise the core value of a product right? Let’s put this into a story:
Jake is at the grocery store near his house and has picked up stuff worth ₹365 he needs. he checks his wallet and he only has 2 notes of ₹2000 in it. It is early in the morning and the grocery store owner doesn’t have any change for that amount. The nearest ATM is 500 metres away but Jake remembers it not having cash the last night.
Jake suddenly remembers how his friend used Google Pay to make a payment last night. He quickly grabs a chair, downloads the app, links his bank account with his card from the wallet, and completes the odd payment with just the scan of a QR Code.
This is the moment Jake realises the value of Google Pay, or online payments.