Google to Start Offering Loans to Merchants in India, Rolls Out ‘Nearby Stores’ Spot Nationwide

Google to start out Offering Loans to Merchants in India, Rolls Out ‘Nearby Stores’ Spot Nationwide Google is about to start out offering loans to merchants in India through the Google buy the Business app. The search giant said on Thursday that it's working with partner financial institutions to help small businesses within the country impacted due to the coronavirus outbreak. additionally, to offering loans, Google announced a national rollout of ‘Nearby Stores' Spot on Google Pay to help businesses get discovered by customers in their locality. The feature was launched earlier this year in cities including Chennai, Delhi, Hyderabad, Mumbai, and Pune. 

Without providing any more details, Google said during a press release that it's bringing the facility to provide loans through the Google buy Business app within the approaching future. The app already has over 30 lakh merchants, the company said.

It's important to means Google back in August 2018 added the selection to avail pre-approved loans for end consumers through Google Pay by partnering with Federal Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and others. the corporate, however, at that time didn't make any similar revelations for merchants and tiny businesses using the payments platform.

Alongside the plans to provide merchant loans, Google in its fresh announcement mentioned the national rollout of the Nearby Stores Spot feature that was launched in April and expanded to 35 cities in May. the corporate has also allowed businesses to point their business hours, also as highlight whether social distancing measures are in place at their stores and essential items, are available.

Further, Google Maps is getting promoted pins as a replacement feature through which businesses would be able to display their establishments as a square-shaped pin. These promoted pins are rolling out to smart campaign advertisers who have a Google My Business profile and maybe fully available within the approaching weeks. Google said that until the highest of September, it wouldn't charge businesses for any clicks, calls, or sales resulting from the promoted pins feature.

Apart from Google, Amazon is additionally supporting merchants and tiny businesses in India during this tough time. The US e-commerce giant recently announced COVID-19 insurance for its seller partners. In April, it also brought a ‘Local Shops on Amazon' program to start out allowing local shopkeepers within the country to sell goods through the web marketplace.