Alphabet and Google CEO Sundar Pichai on Tuesday said the company’s strategy is to make digital payment easier for the merchants, financial institutions as well as customers.
“We want to make all of this work easier, both on the merchant and the financial institution side, and making sure they can connect with the customers well,” he said during the company’s quarterly earnings call.
“We now have 150 million people across 40 countries using Google Pay. We’re making sure it works across the board, works well, easy to use for all the sites. And then over time, we will innovate and build new digital experiences,” Pichai said late on Tuesday.
He emphasised that the company seeks Google Pay to work smoothly, both on the merchant and the financial institution side, “and making sure they can connect with the customers well”.
‘We are really building for scale, building for simplicity. And then over time, we will layer on additional helpful features,” Pichai added.
According to the National Payments Corporation of India (NPCI), unified payments interface (UPI) processed 5.04 billion transactions till March 29, amounting to Rs 8.88 trillion.
This was 11.5 per cent higher than the volume of transactions processed in February and 7.5 per cent higher in terms of value of transactions processed.
The Indian digital payment space is currently dominated by PhonePe, Google Pay and Paytm.