Google the US giant is all set to start offering loans to Merchants in India through Google Pay for the Business App. The Search engine giant on Thursday announced that it is working with the angel financial institutions to help the small merchants of India during this Novel coronavirus outbreak.
Without providing any further details, Google said in a statement that it is bringing the ability to offer loans through the Google Pay for Business app in the coming future. The app already has over 30 lakh merchants, the company said.
The US giant has announced a national rollout of ‘Nearby Stores’ Spot on Google Pay that would help the small business of India to be discovered by their customers easily in their locality.
The feature was launched earlier in most of the metro cities of India such as Chennai, Delhi, Hyderabad, Mumbai, and Pune.
It is important to point out that Google back in August 2018 added the option to avail pre-approved loans for end consumers through Google Pay by partnering with Federal Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and others. The company, however, at that time didn’t make any similar revelations for merchants and small businesses using the payments platform.
Aside from Google, Amazon is also supporting merchants and small businesses in India in this tough time. The US e-commerce giant recently announced COVID-19 health insurance for its seller partners. In April, it also brought a ‘Local Shops on Amazon’ program to start allowing local shopkeepers in the country to sell goods through the online marketplace.