Google Pay is one of the most used payment apps in the subcontinent, and it’s getting better with these upcoming features. At the ‘Google for India’ event, the company announced that Google Pay will get a handful of new features, and here’s everything you need to know about it.
Add people to your UPI circle
Google Pay will soon join the UPI circle, announced a month ago by the National Payments Corporation of India (NPCI). According to what Google presented on stage, users can add members to their UPI circle.
Once added, members can request money via UPI on the Google Pay app, and the circle creator will then need to approve the payment. This will be especially useful for children or elderly people who do not have a UPI account.
Loan Assistance Guide
The Support Guide, as the name suggests, is a feature that uses Gemini at its core to help users answer any loan-related questions they might have before taking out and finalizing a loan.
Users can ask for details such as what fees they have to pay to take out the loan or if they are changing the loan term. The support agent should come back with answers while taking into account the terms and conditions of the loan. Quite practical!
Google Pay now offers gold loans in India
Google Pay is now expanding its loan offerings in India by partnering with Aditya Birla Capital Finance. Users can borrow up to INR 5 lakh from an interest rate of 14% for a tenure of up to 1-3 years, according to what was shown in the slides during the event.
Additionally, Google Pay also gets a Gold Loans feature for consumers and small businesses in collaboration with Muthoot Finance. Unfortunately, Google hasn’t mentioned the release timeframe for any of the aforementioned features.
At the event, Google also announced a new Android security feature to protect users from malicious apps. We also got our hands on YouTube’s upcoming Dream Screen option for creators. What do you think about the Google Pay features available to users in India? What are you most passionate about? And let us know what you think of the new announcements in the comments.
