Alphabet Inc’s Google has partnered with four Indian banks to grant consumer loans online, as the fight for a $1 trillion digital finance market intensifies. The U.S. search giant has teamed with HDFC Bank Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd. and Federal Bank Ltd. to offer instant, pre-approved loans to customers.
California-based company re-branded its made-in-India Tez app as ‘Google Pay’ — the catch-all label for its payments services. Google has claimed that it has 2.2 crore monthly active users on Google Pay.
Source- The Bloomberg