Google Pay Digital Payment App – Benefits & Features

Google Pay

Google Pay is a digital payment app for India. Earlier this app was known as Google Tez. It is recently renamed as Google Pay. In addition to the change in name lot of additional features are added in this app to increase popularity. It will also offer pre-approved loans on the go in 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.

What is Google Pay?

A google pay is a digital payment app. It is a simple way to send and receive money to anyone using a mobile app. Money payment will take place from the sender’s account number. This app will work even if the receiver is not on Google Pay. It is a zero fee affair. Apart from sending and receiving money, you can do online shopping, mobile recharge and a lot of other stuff.

This app works with all Banks that support BHIM UPI.

Key Features and Benefits 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 money using this feature one need to scan QR code appearing 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 money, 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 pay for a landline, mobile, and broadband. They have a tie-up with leading brands such as 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 money by submitting recipient’s bank details and IFSC code. You can also see an old transactions history including the requested money.

Rewards

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 are eligible you will directly receive loan offer on the app.

Also Read – How to use BHIM Aadhaar Pay App?

How to use Google Pay

Using Google Pay is very easy. Follow the steps given below for getting started.

  • Download Google Pay from Google Play Store.
  • After installation first step is setting up screen lock. You can use your existing lock pattern or PIN.
  • Click on Add Bank Account and select bank from the list. If your bank account is linked with current mobile number linkage is easy without passing much information else you need to provide your Bank account number, IFSC code etc.
  • Once your bank account is linked you can tap on circle to send and receive money.

Benefits of Google Pay

Benefits of GooglePay Payment App are given below.

  • Quick and Easy way to send and receive money.
  • Multiple cashback and rewards benefits.
  • Encryption and multiple layers of security by Google to secure transaction.
  • Pay Utility bills, recharge your mobile and do online shopping using this app.
  • No additional cost of usage.
  • This app can also be used for business purpose. Integration is very easy by API and no fee is involved.

Conclusion

In the end, I would like to say that Google Pay is a wonderful digital payment app that can be used for sending and receiving money on the move. If you have not this app you should download and start using it.

Article by Raviraj

Raviraj is the man behind moneyexcel.com. He is graduate in finance, engaged in blogging since 6 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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