After the launch of Samsung Pay, Google too looks set to bring its Android Pay platform to India later this year. According to an ET report, following in the footsteps of WhatsApp and Stripe, the search engine company is preparing to anchor the platform to government-backed Unified Payments Interface.
Citing sources, the report says that Google has already started testing UPI on its Android Pay platform. Apparently, another San Francisco-based startup, Stripe with businesses in over 100 countries is also in advanced talks to enter the Indian market in partnership with UPI.
Three global companies have already approached NPCI expressing their desire to work with UPI, Dilip Asbe, chief operating officer at NPCI, told the publication. However, he declined to name the companies due to non-disclosure agreements.
“They see UPI as a simple, seamless payment option with a mobile focus, which is what these companies are interested in. If these global players put their weight behind UPI, it will definitely give a big push to UPI to reach 50 million to 100 million users in the next few years. We are expecting that these companies will roll out their UPI products this year,” Asbe added.
Android Pay was first launched in the US in 2015 and since then has been introduced in many other countries, including the UK, Russia, Australia, Singapore partnering with multiple banks to enable quick and easy in-app and contactless transactions.