Google has partnered with the industry body Fintech Association for Consumer Empowerment (FACE) to help with the DigiKavach system. FACE will also work with Google to remove predatory digital lending apps from the Play Store in India.
For example, cybercriminals are now combining vishing (voice phishing) techniques with OTP grabber services to steal people's money. As of August 2023, Google Pay was one of the top five UPI platforms in India, along with PhonePe and Paytm.
Google has partnered with ePayLater to offer credit lines to merchants. It has also launched sachet loans in collaboration with DMI Finance. Sachet loans start at as low as Rs 15,000, with easy repayment options starting at Rs 111.
Google has added Axis Bank as a personal loan partner on its payments app. DMI Finance has already been offering personal loans on the platform for a while.