History of Google Pay in India
Google Pay in India was launched on 28 August 2018. Since the beginning of its journey, this service aims to simplify daily transactions, gradually gaining the trust of various segments of the population.
The turning point in the history of Google Pay in India came with the decision of a New Delhi court. The court dismissed lawsuits accusing Alphabet of violating data protection rules, allowing Google Pay to continue its operations. The decision proved pivotal in strengthening the company’s position in the country’s rapidly growing digital payments market.
Since its launch, Google Pay has proven its relevance in Alphabet’s ecosystem, especially in the Indian market. India, with its huge population and rapidly growing IT industry, is a promising platform for the development of such technologies.
The service, which uses Unified Payments Interface (UPI), allows you to manage different bank accounts in a single app, acting as an intermediary between the user and the merchant. This is particularly useful for online casino transactions.
One of the main reasons for Google Pay’s popularity in the gambling industry is its security. The platform complies with the Reserve Bank of India’s encryption standards, and users’ personal and financial information is stored on Google’s secure servers.
Most reputed online casinos in India maintain high security standards, using state-of-the-art encryption and firewalls to protect customer data. Google Pay, due to its widespread acceptance and ease of use, has become a popular choice for deposits and withdrawals.
Krishan Prasad, author of casinoss.in, has made a good list of the best Google Pay real money casinos.
Among the key innovations is a user-friendly interface that makes it easy to find transactions. This is a big step forward as earlier one had to search for transactions by date or time.
Google Pay offered the Spot platform. It gives businesses the ability to create unique interactions with users right in the app.
The Google Pay for Business app deserves special attention. It greatly simplifies the digital payment process for small businesses.
Google Pay is actively working with the government. The aim is to promote cashless payments and improve online financial security in the country.
Safety and reliability
Google Pay in India takes the security of its users seriously. Instead of a real card number, shoppers are shown a virtual account. This measure prevents fraud and protects against security breaches. Google Pay uses NFC technology to transfer data over short distances, which is considered more reliable than Wi-Fi.
Using Google Pay requires unlocking the phone, which increases security. If your device is lost or stolen, you can delete Google Pay-related data through the “Find My Device” feature. However, Google Pay does not offer buyer protection for problems with goods or services, unlike some other payment systems.
Impact on the Indian market
Becoming a leader in payments, it accounted for 59.75 per cent of all transactions in the last summer month, outperforming its competitors by more than double. This success not only demonstrates Google Pay’s relevance in the market, but also its role in simplifying financial transactions for Indian users.
Google has been actively partnering with local businesses. This co-operation not only strengthens Google’s position in the market, but also contributes significantly to the country’s digital economy.