Lucky India. Google Wants to Help
September 16, 2021
Google seeks to clear up a misunderstanding. Odisha’s OrissaPost reports, “Google Says Firmly Sees Itself as Partner to India’s Financial Ecosystem.” At issue is Google Pay and its Spot platform. It sounds like some reports about its partnerships with banks may have given the impression Google is trying to supplant or undermine existing financial institutions in India. We learn:
“The company emphasized that in every geography where Google Pay is present, its stance is consistently one of partnering with the existing financial services and banking systems to help scale and enable frictionless delivery of financial products and services and contribute to the goal of financial inclusion. In a blogpost, Google India said there have been a few instances where these offerings have been reported as ‘Google Pay’s offerings’, which fuels misinterpretation. ‘To be clear, we have always looked at our role firmly as a partner to the existing financial ecosystem that brings unique skill sets and offerings to drive further adoption of digital payments in the country,’ it said. … The internet major also noted that its Spot platform works as an additional discovery channel for many businesses to build and offer new experiences to users to drive adoption of their services. The use cases span across ticket purchase, food ordering, paying for essential services like utility bills, shopping and getting access to various financial products.”
See the write-up or Google India’s blog post for more specific details. The company emphasizes bringing partners onto the Google Pay platform connects them to customers around India who would otherwise be unable to access their services, helping to “level social inequalities.” Aw Google, always looking out for the little guy aren’t you?
Cynthia Murrell, September 16, 2021
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