Ambarish Kenghe, Vice President, Product Management, Google Pay

Mumbai / Bengalru mourning Google Payne is expanding its presence in India by launching new services to accommodate its rivals PhonePe and Paytm in the fast-growing digital payment market. Unified Payment Interface Transfer (UPI) transactions on Google Pay have grown by almost 22% in the last three months to get 34% market share, second only to rival PhonePe.

In an interview with Ment, Google Payne’s Vice President of Product Management, Ambarish Kenge, shared his thoughts on investments and new areas in the payment infrastructure as the Indian National Payment Corporation (UPI) seeks to increase its market share of UPI applications to 30%. Growth. Edited verses:

Google Pay has expressed concern over the UPI market price. What were you transferring to NPCI? Also, what is your opinion on Zero Trader Reduction (MDR)?

We have always been competitive in the market price. And, the time has come, so we want to make sure there is enough competition and that is a good thing.

On the question of sustainability, I think we must definitely make the UPI environment sustainable. There are different ways, and I think it is difficult to say whether MDR is the right approach or not.

India is always innovating and jumping. So, I do not know if we will change with MDR, or otherwise. But we need to make UPI more sustainable and find ways to find out. (MDR is the percentage paid by merchants to merchants to process digital payments).

Do you lower your market share to meet NPCI regulations?

The way it (market capital) is designed, there is time before it is implemented. We play Indian law. So now that a plan has been devised and the market capitalization with which we are working with NPCI and others is concerned, once the market cap is in place, it should not affect the users. That Google payment is the biggest concern. So, we are working with ecology. (Last November, the NPCI, which operates UPI, decided to determine the market value by which payment companies would be able to conduct a maximum of 30% of UPI transactions in the last three months.)

You talked about the sustainability of the UPI ecosystem. How does Google Pay plan to promote platform revenue? Is Lending an Opportunity for Google?

Credit is excessive. Although we do not have any direct credit, we are playing in the same ecosystem – similar to the role we play in UPI, we are transferring money but the money goes to the banks. In the same way, we are playing a small role with loans, access and instant loans. This is a story we will see over the next five years.

Payment players have previously suffered from bankruptcy. How does Google Pay invest in infrastructure to reduce downtime and downtime?

I feel it is a public or digital infrastructure, you have to build for the future. If you build it for today, it will end when you build it.

Internally, we monitor the health of different parts of the transaction, and try to predict the challenges of a particular transaction.

We are also providing users with multiple virtual payment accounts, and we are working on it carefully, making our bank partners take the burden. Therefore, if a specific (bank) network is blocked, we can conduct the transaction with a different bank.

Starting with MyShop, looking at the rental-technology segment and how to make a business on Google Pay?

Today, more than 10 million merchants are getting paid for Google. Traders were badly affected (by the plague). The same traffic will not come to the store after it is opened.

So why not go online and do what Microsoft does as a platform.

We have worked with a pilot in the past and they (the merchants) used to order supplies for business because fast-moving consumer goods companies do not visit Level 2 and Level-3 cities. And these are measurements.

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