<strong>The</strong> International News Weekly MONEY/REAL ESTATE 18 September 22, 2017 | Toronto Over 4 lakh Indians adopt Google ‘Tez’ for payment in just 24 hours Agencies NEW DELHI: Within 24 hours of Google digital payment app ‘Tez’ being launched in India, Google has seen nearly 1.8 crore gross merchandise volume (GMV) done with over four lakh active users. “In the past 24 hours, 1.8 Crore GMV done on Tez already with 410,000 active users,” a Google spokesperson told IANS on Tuesday. Gross merchandise value or GMV is the total value of merchandise sold over a given period of time. Finance Minister Arun Jaitley launched the app in the Capital, saying the idea of “Tez” was discussed by Google’s Indian-born CEO Pichai in January, just after demonetisation. “Google saw a great potential in Indian economy and businesses,” Jaitley said, adding that Google’s new digital payments app over the next few months was likely to make major advances in digital transaction volumes. Replying to this, Pichai on Tuesday tweeted: “We hope that the launch of @ TezByGoogle will help take India one step closer to your vision of @_DigitalIndia”. Built on the Indian government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts. <strong>The</strong> app was built for India, working on the vast majority of the country’s smartphones and is available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu). <strong>The</strong> app works in partnership with four Banks -- Axis Bank, HDFC Bank, ICICI Bank and State Bank of India -- to facilitate the processing of payments across over 50 UPI-enabled banks. According to D.D. Mishra, Research Director, Gartner, Tez provides promising features which are in-line with the requirements. “It is too early to say whether it can be a game changer as evolution in this business is going to continue, but yes it has the capabilities to bring some disruption as of now,” Mishra said in a statement. Moreover, Google’s information about an individual’s preferences can play a good role in enabling business to know their preferences and provide offers with interesting options. “<strong>The</strong> mobile wallet industry too, is evolving and we are at an interesting stage in this competition. Eventually, UPI payments will have an upper hand if it continues to remain free and provide better security, convenience and add more Value Added Services,” Mishra informed. Google also announced “Tez for Business” which offers businesses new ways to unlock the potential of digital payments and engage their customers. India becomes fastest growing market for Brand USA By Christine Nayagam <strong>The</strong> Indian outbound traveller is now a much-coveted commodity around the world, as the country’s booming middle class seeks new destinations and emerges as a key market. <strong>The</strong> Indian market has set a new record as 1.17 million tourists visited the US last year, according to Brand USA, the nation’s first public-private partnership to promote the United States as a travel destination. “Brand USA has reached the million visitor mark from India, we expect much more growth. 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While business travelers and family visits have been the norm so far, more Indians travel to less visited states and try new activities involving adventure and thrills. “Indians are big consumers of adventure activities and this is exactly what we got in Nevada for them. <strong>The</strong> US is very much a road trip destination and there is so much to see, different landscapes, just like in India I guess but with a different decor, different people and a great melting pot of cultures,” said Claudia Vecchio, Director of the Department of Tourism & Cultural Affairs in Nevada. According to Brand USA, India ranks 11th in international visitors and also represents the sixth biggest spender with $<strong>13</strong>.6 billion registered last year. “<strong>The</strong>re is really a great opportunity, only one per cent of the population has a passport and there is a growing middle class. It leaves room for a lot development,” Shepard said. <strong>The</strong> increasing number of direct flights from India by national carrier Air India has also helped in catering to the tourists’ demand, the latest being Delhi-Washington DC. A couple of years ago, Air India also added San Francisco to its other non-stop flights to New York, Chicago and Newark. <strong>The</strong> carrier is said to be evaluating a direct flight to Los Angeles as well. “With the non-stop service from India, San Francisco Airport has seen the traffic back and forth to India grow by 10 per cent, said Melissa Andretta, Director of International Marketing at San Francisco International Airport. “<strong>The</strong> United States has always been a prime destination for Indian tourists, the country being home to an important Indian diaspora. We are seeing a lot of FITs coming, a lot of Indian weddings celebrated in Washington DC where an important Indian origin SkillmanFlooring Hardwood Flooring Laminate || Tiles || Carpet Granite Counter Top Sale & Installation population lives. You can even celebrate Indian festivals like Diwali just like you would do in India as the city organises special decorations and festivities,” said Yi Lu, International Sales Manager at Destination DC. On the recent visa restrictions on Indian travellers to the USA, Shepard said that they had no impact on the tourism to India and that Indians are warmly welcomed by many Americans. (Christine Nayagam can be reached at c.nayagam@ mediaindia.eu) Call Surinder 905.676.9111 Unit #155, 2960 Drew Road, Great Punjab Business Centre, Mississauga, ON - L4T 0A7
<strong>The</strong> International News Weekly September 22, 2017 | Toronto 19