What is Google Pay? Here’s what you need to know

Google has made online payments a whole lot easier. In February 2018, the company announced it’s combining all of its different payment methods into one unified brand, called Google Pay. The Android Pay app is now being rebranded to Google Pay, and the Google Wallet app is now called Google Pay Send. Eventually, the Google Pay app will also have peer-to-peer transactions, allowing users to send and receive money.

Here is everything you need to know about Google Pay, including the places and banks that support it.

Google Pay may soon use QR codes for peer-to-peer payments

Google Pay is already a great way to send money to your friends, but it looks like Google is considering adding a new feature that may add sending payments a little easier for some. According to a new report from XDA Developers, Google is set to add QR codes as a way to initiate a peer-to-peer payment. The option will reportedly show up in the “Send” tab of the app. As the report notes, it’s unlikely that the feature will be easier than simply picking a contact from your contact list, but if you need to send money to someone you just met, it could come in handy.

Google is rebranding Tez to Google Pay

Google launched Tez as a payment service in India around a year ago — but now it looks like the company is giving Tez yet another big push. Part of that includes the rebranding of Tez to Google Pay, bringing it in line with Google’s other payment services. Beyond that, however, Google reportedly wants to turn Tez into a fully featured app that can be used for everything payment-related in India.

When Tez launched, it was largely aimed at bank-based payments but Google soon added bill and utility payments to the service. Now, according to a report from Economic Times, Google will add features for retail payments, both online and offline, and micro-loans, putting the service in competition with the likes of ZestMoney. For that, Google partnered with a number of local banks, including HDFC Bank, ICICI Bank, Federal Bank, and Kotak Mahindra Bank, which will give customers “pre-approved” loans through the app in a matter of a few seconds.