Through the Google Pay for Business app Google will begin to offer loans to traders in India. On Thursday, the search giant stated that it works with partner financial institutions to help small companies in the affected country with the outbreak of coronavirus. They revealed the nationwide rollout of ‘Nearby Stores’ on Google Pay in addition to the loan offering to help companies find local customers. The feature was decided to launch in Chennai, Hyderabad, Delhi, Mumbai and Pune earlier this year.
Google stated in a statement that it will be able to offer credit through the Google Pay for Business app in the near future without providing any additional information. The company said that the service already has more than 30 lakh merchants. It is significant that they added the option back in August 2018 to use Google Pay in collaboration with Federal Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, for pre-approved loan payments for consumers. However, at that time , the company did not make such discoveries on the payment platform for traders and small companies.
In its fresh statement, Google notes the country’s Nearby Stores Spot ‘s national expansion launched in April and extended to 35 cities in May, along with the plans to offer commercial loans. The company has also allowed companies to specify their business hours and to show if social distancing measures are in place and essential items are stocked.
In addition, Google Maps is being marketed as a new feature that will allow companies to view their facilities as a square pin. The promoted pins are designed for smart campaign advertisers who will be fully available in the next weeks, with Google My Business profiles. They said that it will not charge companies for any clicks, calls, or sales arising from the pin feature promoted until the end of September.
Amazon supports traders and small firms in India in this difficult time, apart from Google. The US e-commerce giant announced recently that COVID-19 is providing its marketing partners with health insurance. It also introduced a program called “local stores on Amazon” in April to allow local shopkeepers in Germany to sell goods online.