The popular payments app Google Tez has been rebranded into Google Pay. The company has unveiled new features. It has stated that it's entering into new tie-ups to widen its market. Partnership with private sector banks is on the cards. This is meant to facilitate pre-approved loans instantly to Google Pay users.

"Merchant mode will simplify digital payments for the 12 lakh local businesses already on our platform, and for those coming on-board. From shopping in-store, to paying online, a lot of popular merchants will soon accept payments via Google Pay," a statement from the company said.

The service will soon be unveiled at over 2,000 online merchants, especially the popular ones like BookMyShow. Over 15,000 retail stores like Big Bazaar will also support it.

Google Pay is branching out into other countries too.