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Google Pay FD: Amazon will provide asset management services, Google Pay FD facility – Two of the world’s largest companies Google and Amazon Mazon are constantly striving to improve their services in India.

Google Pay FD: Amazon will provide asset management services, Google Pay FD facility – Two of the world’s largest companies Google and Amazon Mazon are constantly striving to improve their services in India.
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Google Pay FD: Amazon will provide asset management services, Google Pay FD facility – Two of the world’s largest companies Google and Amazon Mazon are constantly striving to improve their services in India.

Google Pay FD: Amazon will provide asset management services, Google Pay FD facility – Two of the world’s largest companies Google and Amazon Mazon are constantly striving to improve their services in India.

Highlights

  • Google Pay has entered into an agreement with Setu for FD services.
  • Amazon Pay has a deal with Kuvera.
  • Initially, Kuvera will facilitate investments in mutual funds and FDs.

New Delhi
The two largest companies in the world, Google and Amazon Mazon are constantly striving to improve their services in India. As part of this, both companies are also running for new services. In the form of Google Pay and Amazon Pay, a unit of both the companies is present in the payment market in India. Now both companies are trying to take it a step further.

Amazon will provide asset management services in India. Amazon Pay has entered into an agreement with home investment advisory service startup Kuvera to provide wealth services to 50 million customers in India. Earlier, Google Pay had announced a term deposit facility for customers in India.

Mutual funds and FDs will now be available on Amazon
According to Kuvera founder and CEO Gaurav Rastogi, Amazon Pay users will see an asset management icon on the screen after logging in to the app. Once he clicked on it he indicated his desire to focus on the asset management service that the process would be taken through Kuvera’s platform. However, every step of this process will be in the Amazon Pay app. Initially, Kuvera will facilitate investments in mutual funds and FDs. Other products will be added over time.

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Equitas Small Finance Bank FD on Google Pay
Google Pay has entered into an agreement with Setu for FD services. Initially, Equitas Small Finance Bank will have 1 year FD facility on Google Paver. The maximum interest rate will be 6.35 per cent. For this facility users have to complete Aadhaar based KYC through OTP.

Indications of the changing situation in the Indian financial services sector
Experts believe that the move by both the giants reflects the changing situation in the Indian financial services sector, where a huge market of 1.4 billion people is attracting the world’s best and largest companies to set foot. According to Vikas Bansal, Director, Amazon Pay India, the company’s vision is to make life easier and fulfill the aspirations of every customer by meeting their payment and financial needs.

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