Google Pay may be a digital payment app for Asian country. Earlier this app was known as Google Tez. It is recently renamed as Google Pay. In addition to the change in name only ton of extra options are added during this app to increase quality. It will additionally supply pre-approved loans on the enter association with ICICI bank and HDFC bank. In this post, we will explore the features and benefits of Google Pay and also know the process of getting started with Digital Wallet Google Pay.
There has been tons of buzz latterly on the Google wallet – the app that allows you to buy things with one faucet of your phone. Is my information safe? Why should I use it? I’m here to set the record straight. Arguably one among the most advanced mobile-payment systems within the U.S. to date – this virtual pocketbook provides a number of advantages, is quick, simple, and 100% safe according to Google.
Key Features of Google Pay
=> Send and Receive Money via Audio
Google Pay has introduced a new feature called as Audio based QR system for sending and receiving money. In order to transfer cash using this feature one have to be compelled to scan QR code showing on screen while sliding the circle for payment and receipt. It is claimed that ultrasonic wave is used to create one-time code for digital payment.
=> Pay Utility Bills
Apart from sending and receiving the cash, you can use this app for paying utility bills like electricity, gas, water, property tax, insurance bill, DTH recharge and many others. You can even purchase a telephone line, mobile, and broadband. They have a tie-up with leading brands like Zerodha, Redbus, TataSky, Goibibo etc.
=> Multiple Payment Options
You have multiple payment options in this app. Firstly you can use the facility of pairing mobile using QR code and transferring money. Apart from that, you can also use UPI name for transferring money. You can send cash by submitting recipient’s bank details and IFSC code. You can additionally see an recent transactions history together with the requested cash.
Like another payment app, Google Pay also offers rewards and cashback benefits. Current offer is sending or receiving up to Rs.150 and chance of winning Rs.1000. If you pay your electricity bill using this app there is assure cashback of Rs.50. If you refer this app to your friend you will get assure cashback of Rs.51
=> Loan offer
Google Pay has recently tied up with ICICI Bank, HDFC Bank and Kotak Bank for offering loan on the move. If you’re eligible you may directly receive loan supply on the app.
How secure is a Google Pay transaction?
Transactions victimization Google Pay are secure as Google keeps all payment data on secure servers. Your full card details are ne’er hold on on your phone or shared with merchants once you use Google Pay. Merchants are solely provided with your Virtual Account range.
When Google Pay is used for transactions a confirmation appears in the app which can assist you to detect suspicious activity sooner. This alert contains wherever the group action occurred together with the merchant’s name and therefore the quantity of the payment or refund.
If you misplace your phone you’ll use android Device Manager to either lock your device or perform a foreign manufacturing plant reset to stop more Google Pay transactions being processed.