Post demonetization India has seen a huge surge in digital payment solutions. And now, as India is further looking to adopt the digital trend more comprehensively, the digital payment technology could soon have the backing of Google.
In his latest statement, Google CEO Sundar Pichai has affirmed that the company was considering making such move and that the company would work hard on bringing some of its services on top of the Unified Payments Interface.
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood. UPI enables person-to-person and e-commerce transactions to be made in an easy way.
Supporting the Indian government, Pichai in an interview with NDTV said that the move by the government was a bold and courageous one. He also added that Google was trying to understand what UPI was and the power of the stack that was being built inside the company. Outlining the scale at which UPI worked, Pichai also stated that it was a unique opportunity for Google and that the company was excited and thinking hard about how it could adopt to UPI.
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Pichai later mentioned that Google could bring some other services as well to make digital payment easier for Indian users.
In another interview with the Economic Times, Pichai has also mentioned that Google could add support for UPI on Android.