For every transaction that ya user makes using Google Pay, the App receives a small percentage from the company. Google Pay makes money through commissions, the commissions it gets for transactions from service providers and Bill payments. A significant part of these benefits was, of course, credited to Google Pay. But with the availability of Google Pay, it merely skyrocketed. The concept of UPI (unified payments interface) already existed, when Google introduced its wallet system in India. It already has a significant presence because it is a branch of Google and it has made cashless transactions very easy. But, for now, the primary function of Google Pay is to grow its base. It can be a very good resource for Google to generate revenue. The Google Pay app is free of cost and does not charge its users any money for making transactions or does not take any commission or other such charges for the use. So, Google Pay provides us a platform to make contactless transactions and makes our life easier, however, the question arises how do they earn money for themselves? We all know that the Google Search engine earns money from Google Ads, how does G-pay make money for their company? Google Pay is available in about 28 countries as of now.
Using Google created App-Google Pay, one can send payments to other users, service providers, and business owners, and can also make bill payments to even third parties using any Payment Instruments accepted by Google Pay. These Apps enable in-app, online, and in-person contactless purchases on mobile devices, Google Pay or G-pay aids all these services.
Google Pay is one of the most downloaded apps.
From the comfort of our own place, wherever we are, and ease of making transactions without cash or card can be only possible with UPI Apps or Online Wallets like Google Pay. For easy and fast transactions, we need UPI Apps and online wallets.
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