The ongoing trend in today’s fast-paced world of adopting technology to ease operations throughout different industries to facilitate complete digitization shortly is one of the prime reasons behind the growth of UPI payments like Google Pay. At present, the availability of Google Pay UPI and other UPI payment methods in India is at its peak, with almost all payments and purchasing to now be completed with great ease online. According to statistics, a minimum of 15,00,00 different websites today in India alone use Google pay as a preferred payment option. It also has one of the largest customer bases in the country.
Today, the UPI payment gateways are popularly used for either person-to-person transactions or merchant person or vice-versa transactions. However, since the inception of the person to merchant payment option, the UPI payment gateways like Google Pay have been chosen as the preferred medium for merchant payments by the majority.
According to studies, approximately 59.23% of the total UPI transactions take place on Google pay UPI alone. One of the prime reasons other than technological advancement for this growth of UPI payment gateways like Google pay is the availability of the same on a customer’s mobile phone. Especially for Indian users, the concept of the digital economy is fairly new, however, with the payment platforms now shifting to devices like mobile phones, the awareness of this particular payment method in India is witnessing a new height.
Limits For Google Pay
- As far as the Google pay transfer limit is concerned, you have the liberty to transfer or send an amount of Rs. 1,00,00 only in one day.
- Additionally, other than this google pay transfer limit of money, there is also a google pay transfer limit for the number of transactions or money transfers you can participate in with an upper limit of only 10 times.
- Moreover, to keep cybercrime to a bare minimum, the Google pay transfer limit for money requests is also a maximum of only Rs. 2000 per day.
More About Google Pay UPI
- One key thing to remember is that the Rs.1,00,00 transaction amount limitation is applicable for all different categories and UPI payment options together. So whether it be for shopping, money transfers, food orders, etc., it is all-inclusive in the Rs. 1,00,000 google pay transfer limit.
- Even though the Google pay transfer limit is Rs.1 lakh, for a person to merchant transactions, this limit is not applicable. Additionally, there is also no limitation to the number of times you can conduct transactions on Google pay in such a scenario.
- UPI payment gateway has become a preferred payment option for the majority of businesses today as it is convenient and quick.
- One of the top benefits of adopting a UPI payment gateway like Google pay UPI is allowing your customers to benefit from a more efficient payment process, resulting in a drop in incomplete purchases and a rapid increase in customer satisfaction simultaneously.
Overall, to conclude, there are multiple reasons behind the rapid adoption of technology like Google pay UPI that reduces the time taken by both the customers as well as the businesses or industries to complete a transaction. One of the biggest advantages of choosing Google to pay UPI as your payment option is that it does not charge any merchant discount rate, leading to a direct benefit for the businesses as no profit sharing is necessary. All you need to do is ensure you choose the right gateway to adopt payment options on your business websites that do not charge under-the-table fees like set-up charges or maintenance, and one such medium is Cashfree. Thus, be mindful and stay updated with the current trends in the market by adopting the Google pay UPI payment gateway option for your business today.