What you need to know
- Users in India will soon be able to purchase apps, games, and in-app content using Unified Payments Interface (UPI).
- Google is hoping the addition of UPI as a payment option will help app developers reach a wider audience.
- UPI will show up as a payment option on the Play Store in India over the new few weeks.
Google has announced the addition of Unified Payments Interface (UPI) as a new payment method on the Play Store in India. To purchase an app or in-app content, users in India will simply have to link their UPI ID (Virtual Payment Address) in Google Play Store billing. Payment options currently offered on the Play Store in India include credit or debit cards, net banking, direct carrier billing (only for Airtel and Vodafone subscribers), and gift cards.
Google believes the move will help Indian app developers grow further, as people will be able to pay for apps on the Play Store more easily. UPI, which was launched in India in August 2016, is a payment system that lets one transfer money from one bank account to another quite easily. Thanks to its convenience and speed, it has grown much faster than other forms of digital payment in the country.
As per the annual report published by the Reserve Bank of India recently, UPI-based transactions surpassed debit card payments in 2018-19. Compared to the 4.41 billion debit card payments, about 5.35 billion transactions were made through UPI.
The UPI payment option will begin rolling out to users in India on the Play Store over the next few weeks. In addition to Google Pay, users will be able to purchase apps and games on the Play Store using other popular UPI apps such as BHIM, Paytm, and PhonePe as well.