Google Pay Launches UPI-Based Payment System with Pine Labs

Google Pay has launched the 'Tap to Pay' UPI-based payment system on collaboration with Pine Labs.

This new functionality facilitates payments where you just have to tap the phone to pay, which is seen on some credit and debit cards. This process is quick and seamless when compared to entering a UPI-linked mobile number or scanning a QR code, according to the press release.

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Note that the feature will only work on NFC-enabled Android smartphones to make payments by using any Pine Labs Android POS terminal across the nation. This means to complete payment, you have to just tap your smartphone on the POS terminal and authenticate the payment from your phone, using UPI PIN. 

Google Pay officials stated that fintech growth in India is writing the playbook for the world, first with enabling real-time payments with UPI, and further, by developing with flows that make the transaction time virtually zero. 'Tap to Pay' for UPI has implications for high traffic retail outlets, with queue management hassles poised to be reduced, and taking digital payments at POS beyond cards. They are very excited to bring this solution to India, in collaboration with Pine Labs.

(Source: The Paypers)