There are a few things to keep in mind when making money with Google Pay. Let’s first understand how Google Pay monetizes.
Companies get their commission if money is exchanged through UPI, which is why they offer this service for free to their customers. Transactions through UPI increased tremendously in India a few years ago.
When you recharge using Google Pay, the company receives a commission from the network provider in return. For example, if you recharge any Jio number with Google Pay, Jio will pay Google Pay a commission. Using Google Pay, shoppers can now do business. This means that shopkeepers can also receive a commission if people recharge their mobile phones using Google Pay. The market for Google Pay is already huge.
According to the report, Google Pay accounts for 40% of the UPI market. This means that 40% of all UPI transactions are done using Google Pay. Google Pay is a broker app that works just like a broker. Its entire profit depends on the commission. If you take on Google Pay business, you might even be paid a share.