Google to offer loans through Google Pay for Business to India-based merchants

Friday 26 June 2020 12:06 CET | News

Google has announced it will offer credit to millions of merchants in India through its Google Pay for Business app in late 2020.

According to TechCrunch, the company said it is working with financial institutions to offer loans to merchants from within its Google Pay for Business app. The announcement comes as part of Google’s effort to help small and micro-businesses in India during the COVID-19 pandemic.

Moreover, the company said it plans to extend – starting 25 June 2020 – its Nearby Stores offering, which was launched in May 2020 and enabled local businesses in select parts of the country to get discovered by customers in their neighbourhood. 

Although Google Pay has almost 75 million transacting users, most companies and payment services struggle to find a business model for their services in India. Facebook, for example, remained stuck in a regulatory maze, while it was trying to launch its WhatsApp Pay offering.

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Keywords: Google, loans, India, merchants, Google Pay for Business, COVID-19, Nearby Stores, WhatsApp Pay, payment services
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce