Google will help SMEs get loans through Google Pay


Google India said on Thursday it will work with financial institutions to help merchants get loans through its Google Pay for Business offering.

It’s part of Google’s new products and initiatives for small businesses to help them recover and rebuild their business amid the COVID-19 pandemic by going digital.

“With over 3 million merchants now using the Google Pay for Business app to accept and make digital payments, Google Pay is also working (to) partner (with) financial institutions to bring their lending offerings to merchants, that can be used directly in Google Pay for Business, something that is especially relevant during these uncertain times,” Google said in a statement.

He added that this offer will be “coming soon”.

Google has also launched “Grow with Google Small Business hub” in India, which will serve as a one-stop destination for all small businesses to access all the products and tools they need to go digital, maintain business continuity and access useful resources such as quick help videos and support pages for learning digital skills, the statement said, adding that it will soon also be available in Hindi.

Also, a new offering called “promoted pins” on Google Maps will help businesses stand out.

Business owners can highlight specific services like pickup and delivery, or other unique offers to make shopping easier.

“We have started rolling out Promo Pins for Smart Campaign advertisers with a Google My Business profile and will be fully available in the coming weeks. Until the end of September 2020, businesses will not have to pay for clicks, calls or sales resulting from promoted pins,” he said.

Google said businesses of all sizes can now get its premium “Meet” video conferencing service for free. It will also have pro versions of Google Drive, Docs, Sheets, and Slides available for free until September 30.

“We have consistently invested in programs and solutions to remove the barriers that prevent small and medium-sized businesses from benefiting from digital. And each month, we generate more than 150 million direct connections between these businesses and customers, including calls, online reservations and direction requests,” said Shalini Girish, director of customer solutions for Google in India.

However, the ongoing COVID-19 pandemic and ensuing lockdowns have accelerated the need for many other businesses, especially small businesses, to embrace technology and connect to minimize disruption and recover, said added Girish.

“We recognize that recovery will come in different stages for different businesses and navigating the digital world can be a daunting experience for many. Through our Digital Unlocked program, we are proud to have helped over a million ‘companies and individuals to take advantage of our digital skills program in India,’ she said, adding that the company will redouble its efforts.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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