Google Pay for Business – All You Need To Know

Digital payment market in India is becoming more and more intense with the each new development. While WhatsApp Pay is all set to launch its payment service in India, Google Pay has come up with its all-new stand-alone Google Pay for Business app. The app will help millions of small businesses to interact and collect payment. In this article let’s go through the features, benefits and how to use Google Pay for business app.

What is Google Pay?

It is a digital payment platform developed by Google which helps users to transfer money directly from the bank account. The user can also pay utility bills, buy gold, book movie tickets and much more.

In India, Google has launched its payment service in the name of Google Tez. Which was a peer-to-peer money transfer app. It has a unique feature of transferring money from one account to another account even without providing any bank details.

In August 2018, the Tez was renamed as Google Pay. The official mobile app from Google.

Google Pay is the peer to peer money transfer app works on the UPI platform in India. It is the simplest way to send or receive money to anyone anywhere in India. Send or receive money with zero fees. You need not be a user of Google Pay to send or receive money through the app.

What is Google Pay for Business?

Google pay for a business is the dedicated mobile payment app for the businesses of all size. With this app, the user can receive instant payment directly to his/her bank account and allow new customers to discover your business with Google Pay for Business.

Features of Google Pay for Business

  • Accept payment from millions of customers with 80+ banks linked with the payment platform via UPI.
  • Fast and easy account setup. Just download the app and complete the setup in a few easy steps.
  • Customers can pay you via three different modes. QR code, Phone number, and Tez mode.
  • High-level security to ensure the safety of you and your customer’s bank account.
  • It helps you to get discovered by millions of Google Pay users at no extra cost.
  • Get rewards directly to your bank account.
  • Get useful insights of your sales figures and other useful data points to help you grow your business.
  • Collecting payment from your customer is free. ( In future the same may vary)

How to use Google Pay for Business?

Using Google Pay for Business is quite easy and fast. You just have to download the mobile app on your mobile. And with few simple steps you are good to go.

Few documents you need to have handy while activating google Pay for business. They are :

  • Shop registration certificate
  • PAN card
  • Bank account details
  • Bill book
  • Photos of your shop
  • shop Banner photo (outside)
  • Shop furniture

Once you have these documents handy, request for a call from Google Pay through the app. They will video call you and verify your documents plus your shop. If they found all the documents are in place, they will activate your Google Pay for Business account.

Wealthpedia

Vishal Jhaveri is an avid finance blogger with vast experience in various financial markets like Stocks, Mutual Funds, Insurance, and Personal Finance. He believes that personal finance is a subject we aren’t taught in our schools. Earning is important to have a good sustainable life for yourself and your family. but you must acquire financial knowledge to create real wealth. Disclosure: All content provided on this website is for informational and educational purposes only and is not meant to represent trade or investment recommendations.

Leave a Reply