Home Investment Google Pay Transactions in India – # Things to know

Google Pay Transactions in India – # Things to know

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The concept of digital wallets has now become a popular practice in countries like India where sending and receiving money is now mostly limited to online mediums. One of the prime reasons why platforms like Google pay UPI garnering deep acknowledgment and appreciation is because of the multiple unique features they offer alongside a smooth user interface to ensure maximum customer satisfaction.

Even though it is widely used as the payment medium for the majority of the businesses today in the country, there is still a google pay transfer limit on the amount you can transfer and the number of times you can participate in sending or receiving money. As far as the Google pay transfer limit amount is concerned, the upper limit is Rs.1,00,000 only. Moving on to the Google pay transfer limit on the number of attempts, you can do up to 10 transactions per day, with the limitation of only Rs.2000 when requesting money. If you are still unsure, click to know more about the different limits for Google pay and how you can use it for your benefit.

Steps To Set-Up Google Pay

The hassle of setting up and beginning your journey with the Google pay UPI payment method is fairly easy as you only need a list of things to start and they are as follows.

  1. The first and the most important thing you need to begin your Google pay journey is to have an active bank account. This is necessary as Google pay does not store money for you but instead directly sends and receives money from your dedicated bank account.
  2. The next step is to link your mobile number with your Google pay account as the majority of the transactions can then be completed with the help of your mobile number alone.
  3. The last step is to ensure you have an ATM card or debit card aligned with your bank account that is linked to your Google pay account.

Top Benefits Of Google Pay

There are multiple reasons behind the increasing success of Google pay UPI transactions in India and one of the key reasons is the multiple benefits it offers to the customers, especially in terms of safety and security. Let us discuss some of them below.

  • One of the best features of Google pay is that it alerts you of any potential fraud or risks when you participate in sending or receiving money with the help of its machine learning algorithm.
  • Similar to mobile banking, even for payment platforms like Google pay UPI, you need a specific pattern, pin code, or biometric to enter the application for authentication. This allows no important information to be leaked out to hackers, ensuring payments are safe and secure.
  • With the help of faster payments, the number of sales and conversion rate for all merchants is expected to be high with the help of the Google pay UPI payment option.
  • The biggest reason why merchants use Google Pay as their preferred payment option is that it does not have any underlying fees or charges like transaction fees, maintenance fees, set-up fees, etc.
  • For the customers, one of the biggest benefits of using the Google pay payment method is that it allows faster purchasing options and is also a free-of-cost application on the mobile phone, making it a win-win situation for them.

Therefore, to conclude, one of the prime reasons why people are looking for quick and easy digital methods for payments is to reduce their individual manual involvement of entering the card numbers, net banking credentials, etc. The future is proposed to be complete digitization and so it is fair to adopt the bus technologies available today like Google pay UPI to use it for your advantage.

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