Sundar Pichai, CEO of Google has made several announcements during the Alphabet earnings call around Google Tez. This is the payments’ application that Google had launched in India just the previous month.
The Unified Payments Interface (UPI) says that the NPCI’s payments platform of the country, the Google Tez application offers several facilities including leveraging bank accounts for payment procedures.
Sundar Pichai has declared that Google Tez has already served more than Rs.3 crore worth transactions in the first five weeks of its launch in the month of September. The record reports that over 7.5 million users have already used the application for making over 30 million transactions. Pichai further added, “I’m really excited about the potential this brings for India’s mostly cash-based economy”.
Pichai also said in the earning calls that the Google apps have gained a strong foundation in the Asian countries in the recent years and the Company is working yet further to build a stronger base.
Pichai further added that both Alphabet and Google have been investing a good amount in Asia and is looking forward to a better engineering and hence a bright production along with marketing future of the Company in Asia. This investment has also helped in bettering some core products by the Company like the Search Maps and YouTube for Asia.
“On emerging markets, we do see a differentiated opportunity there partly because the characteristics of how truly many of these markets came mobile first, I think, gives rise to different ways users are adopting our products. And also, more importantly, the ecosystem which is built around, so for example, if you take e-commerce, the kind of models that are emerging in these countries are also a bit different. So, I think we see a way to look at these markets with a lot more thought and address them for the opportunity that they have, not just apply our global products there. So I think that’s what led us to do Google Tez in India. And we’ll thoughtfully look at the opportunities in that region and invest a lot in the years ahead”, said Pichai on being questioned about Google’s positioning in the emerging markets that are different from the ones like U.S.