Google rebadged its India payment app Tez as Google Pay, bringing the brand into line with the rest of its mobile financial services operations across the world.
The company began the rebrand of its various e-commerce and mobile financial service units (including Android Pay) to Google Pay in January but, at the time, left Tez as a standalone brand.
Tez had limited functionality compared with Google’s operations in other markets and had been built specifically to meet regulatory guidelines in India. This allowed connection to the country’s Unified Payments Interface interoperability system.
The service launched to much fanfare in September 2017: figures reported by Google today (28 August) showed Tez built a monthly user base of 22 million and processed $30 billion of transactions in its first 11 months of operation.
Google said Tez users would retain all current services offered by the app after the rebrand, in addition to being able to access new features including instant loans.
Earlier this year, the company had been rumoured to be planning to export Tez to other developing markets, although no specific target countries were identified.