Google Pay Business uses video KYC to onboard merchants for UPI payments
Spot platform will help merchants come online by creating a virtual store
Spot codes will be displayed in partner stores and retail packaging
At the Google For India event today, the tech giant has launched the Google Pay for Business app, which makes it easier for merchants to get on board the digital payments bandwagon. Besides the Google Pay Business app, the company also announced a Spot platform, powered by Google Pay which helps stores and retail outlets create online stores using Google Pay APIs.
Google Pay Business makes it incredibly easy for merchants to join the UPI payments platforms through video KYC, and instant verifications through Google Duo.
Through the Google Pay for Business app, merchants can track their income and payments history to understand how their business is progressing.
The Spot platform will help merchants come online by creating a virtual store using Google Pay APIs. Stores can enable digital payments through Google Pay using the Spot platform and can also help customers pick up purchases at a later time. Customers can also select from a range of products at a Spot store and go about purchasing products as they would on a regular ecommerce website.
Spot stores will be visible in the Google Pay app and can be designed, developed and hosted by the business itself. Each Spot store acts as a virtual storefront for the business. Google used the example of eat.fit during the demo on stage.
The best part about Spot from a customer point of view is that no downloads are required of the third party app.
Spot codes are just like QR codes, but with a more vibrant colour scheme. Spot codes also have NFC support so customers can scan Spot codes and order and pay, return for pickups, without physically opening the Google Pay app.
Further, Spot codes can be added on packaging by retail partners to enable upselling, boost retention and create a stronger loyalty bond in the customer’s minds.
