NFC TIMES Exclusive Insight – SINGAPORE: Google is seeking to sign up more small merchants and encourage more retail payments with its Tez mobile payments service in India, an app now mainly used for peer-to-peer funds transfers.
As it takes on India’s dominant mobile payments service, Paytm, and faces the imminent rollout of a payments service by widely used messaging service WhatsApp, Google is seeking to make Tez “more accessible,” said Diana Layfield, Google VP, next billion users, speaking at the recent Money 20/20 Asia fintech show, attended by NFC Times.
Layfield repeated Google’s assertion from December that more than 500,000 merchants, nearly all of them small shops or street vendors, are using Tez. That is still a small percentage of the estimated 40 million to 50 million mostly small merchants in the country.