News Summary

Google has launched a UPI-linked credit card in India, named Flex by Google Pay, in partnership with Axis Bank. This move aims to increase access to credit in India’s growing digital payments ecosystem, where less than 50 million out of 1.4 billion people currently hold a credit card. The card is issued digitally through the Google Pay app and offers features such as rewards, flexible repayment options, and security settings management. Google plans to expand its partnerships to include more issuers. This initiative is part of Google’s broader strategy to integrate lending into its payment apps, addressing the gap in credit access in a market with rapidly growing digital payment adoption. Additionally, Google is introducing a ‘Pocket Money’ feature for children and enhancing features for small businesses on Google Pay.