Google’s fee platform Google Pay has introduced the launch of ‘Faucet to Pay‘ function for UPI-based transcations. The brand new performance brings the comfort of ‘Faucet to Pay’ function provided by debit and bank cards to UPI. To this point, the ‘Faucet to Pay’ function has been obtainable just for playing cards. Google Pay has launched the performance in collaboration with Pine Labs.
Which means to finish a fee, all a person might want to do is faucet their telephone on the POS terminal and authenticate the fee from their telephone, utilizing their UPI PIN, making the method instantaneous, as in comparison with scanning a QR code or coming into the UPI-linked cell quantity.
The performance can be obtainable to any UPI person who needs to make use of their NFC-enabled Android smartphone to transact utilizing any Pine Labs Android POS terminal throughout the nation. Google piloted the function with Reliance Retail and can now be obtainable at different giant retailers similar to Future Retail and Starbucks.
Commenting on the event, Sajith Sivanandan, Business Head, Google Pay and Subsequent Billion Person initiatives, Google APAC mentioned, “Fintech progress in India is writing the playbook for the world, first with enabling real-time funds with UPI, and additional, by innovating with flows that make the transaction time just about zero. Faucet to Pay for UPI has profound implications for prime site visitors shops, with queue administration hassles poised to be significantly diminished, and taking digital funds at POS nicely past playing cards. We’re very excited to convey this first-ever innovation to India, in collaboration with Pine Labs.”
“With Rs 8.26 lakh crore value of transactions in only a month of December 2021, UPI has taken off in an enormous method in India. Right this moment, we’re happy to companion Google Pay and allow ‘faucet to pay’ for UPI transactions on Pine Labs Android POS terminals. We consider this may additional strengthen UPI acceptance in India and enchantment to shoppers, particularly the youth inhabitants who’ve taken a liking for contactless and digital fee,” mentioned Kush Mehra, Chief Business Officer, Pine Labs.