In September 2019, Google had announced its plan regarding expanding its UPI payments to facilitate tokenised cards. However, nothing materialised even after months of the initial teaser. Google Pay is now adding both credit as well as debit cards as a payment option to its users. Nevertheless, currently, only select users can access the cards payment option.
You will need to verify your card by entering the one-time password (OTP) you get from the bank to add your card to the app. After your credit/debit card has been added, Google Pay will allow you to make NFC-based contactless payments, wherein you can tap at an NFC-enabled POS terminal and make your payment.
Additionally, QR code-based payments can be done for mobile recharges and online payments wherein Google Pay is accepted as a payment option.
Your information on Google Pay will be saved using digital tokens. Once a payment gets initiated, these digital identifiers will be shared with the payment gateway versus the credit/debit card number. The digital tokens will be saved locally on your phone; it needs to be set up afresh after every time you install the Google Pay application.
Google has come up with a support page which has detailed information concerning the steps you need to follow for adding a credit/debit card to the Google Pay application. An option to add a card will be available in the settings menu, under the Payment methods section. The support page has mentioned that currently, not all Google Pay users would have access to this new payment option. Also, card support is restricted to Visa cards that are issued by the State Bank of India (SBI) and Axis.
For any clarifications/feedback on the topic, please contact the writer at bhavana.pn@cleartax.in
Bhavana is a Senior Content Writer handling the GST vertical. She is committed, professional, and has a flair for writing. When away from work, she enjoys watching movies and playing with her son. One thing she can’t resist is SHOPPING! Her favourite quote is: “Luck is what happens when preparation meets opportunity”.
The systematic investment plan (SIP) contribution in February 2024 has crossed a new milestone. The monthly contribution tipped at Rs…
The Income-Tax (I-T) Department has directed taxpayers to access the Annual Information Statement (AIS) via the e-filing official portal and…
Considering the vagaries of the stock market, investors often ponder over reevaluating their strategies. Whether to continue to remain invested…
Financial planning is beyond just investing wisely to save on taxes; it's also related to protecting oneself and one's loved…
A salaried individual earning up to Rs 5-15 lakh as net salary on an annual basis must first take stock…
Equity-linked savings schemes (ELSS), also referred to as tax-saving schemes, are equity funds that invest a significant portion of their…