Convenience and Commerce with Google Pay at Global Fintech Festival 2024
Google Pay has always sought to bring ease, convenience and simplicity to the way India interacts with payments and finance. In keeping with this mission, at Global Fintech Fest (GFF) 2024 which concludes today, we made a few key announcements about features and partnerships that will become available to Google Pay users later this year:
- Delegate Payments a.ka. UPI Circle: Empowering Your Trusted Circle with Digital Payments
UPI Circle on Google Pay is an innovative feature designed to help your close trusted ones make digital payments without needing to link their own bank account. While UPI has undeniably simplified digital transactions for millions, there's still a segment of the population that relies on cash and/or is hesitant to use UPI, due to various reasons, including limited access to banking services.
Getting more Indians to pay safely for bills or shop offline and online by delegating to a trusted contact is the core ethos behind this innovation.
As an existing UPI user on Google Pay, you can now add your family members or friends as "secondary" users to your UPI Circle. You will be offered two options:
- Partial Delegation: You retain full control, approving each payment request initiated by your secondary user
- Full Delegation: Set a monthly limit, up to ₹15,000, allowing your secondary users to make payments independently within that limit
As the launch partner for UPI Circle with NPCI, we're excited to contribute to the broader goal of making digital payments accessible to every Indian. This feature marks another step towards a more inclusive and convenient financial ecosystem.
2. UPI Vouchers or eRupi
In an era where UPI has revolutionized the way we transact, UPI vouchers is an innovative way to help someone pay digitally, by giving them a prepaid voucher linked to their mobile number. Beneficiaries of these vouchers will be able to use any supporting UPI app including Google Pay to pay for all their supported merchant transactions without even linking their bank account on UPI.
Initially introduced for COVID-19 vaccination payments, UPI Vouchers has now evolved into a versatile payment solution for various sectors. This expansion opens up a world of possibilities where UPI vouchers can be issued by existing UPI users, as well as government and corporate organizations serving varying needs and use cases. We are proud to collaborate with NPCI and the Department of Financial Services to bring the UPI Vouchers functionality to millions of Indians, right from within the Google Pay app.
3. Clickpay QR scan for Bill Payments
With the aim of making online bill payments hassle free and safer, Google Pay in partnership with NPCI Bharat Billpay has launched support for ClickPay QR on the Google Pay app. With Clickpay, users can pay their bills on Google Pay by simply scanning a (ClickPay) QR using the existing QR scanner they are familiar with. No more having to remember bill account details or lengthy consumer IDs.
Billers can generate customized QR codes at a bill account level and present them at their point of sale, email, physical or other digital surfaces. The latest bill is automatically fetched when a ClickPay QR is scanned and users can make payments in a fast and seamless manner.
4. Prepaid Utilities payment
Google Pay is introducing Prepaid utilities to its list of supported recurring payments categories in partnership with NPCI Bharat Billpay. The feature allows users to discover their prepaid utility providers or aggregators (like housing societies), link their energy accounts and pay seamlessly using UPI.
As more billers get onboarded to this category, this will help users benefit from the ease of tracking all their recurring payments with a single checklist on Google Pay alongside the convenience of UPI.
5. Tap & Pay with RuPay Cards
Google Pay, in collaboration with NPCI, is introducing Tap & Pay payments for RuPay cards, enabling millions of RuPay cardholders to use their mobile phone for fast and safe payments. Users can add their RuPay card to Google Pay, and then simply tap their mobile phone to any card machine to pay. Card information like the 16-digit card number is not stored with Google Pay. This feature carries out your transactions, safeguarding the actual card details and providing even more convenience than carrying a physical card.
6. Autopay for UPI Lite
UPI Lite has simplified payments for small ticket purchases or transfers. Autopay for UPI Lite enables automatic top-ups for a user’s UPI Lite account when the balance falls below a certain amount. Users can now use UPI Lite without worrying about running out of Lite balance.
We are very grateful for the response to this year’s launches at GFF 2024 but the year is not over yet so watch this space for more!
