Tech major Google’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Indian unit, Google India Digital Services, has signed a pact with NPCI International Payments Ltd. to expand UPI (a digital payments service) globally. NPCI is a subsidiary of the National Payments Corporation of India.
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This move is aimed at widening the reach of UPI transactions for travelers outside of India and aiding in the development of similar digital payment systems in other geographies. Further, the two companies will look to ease remittance mechanisms between countries by tapping the UPI infrastructure.
The effort is expected to drive the global acceptance of UPI while providing cost-effective payment experiences for both merchants and customers alike. According to Watcher.guru, Google Pay has garnered 67 million users in India and commands a 35% market share in the country. In another development, Google continues to restructure its Ad sales unit. This move has meant the loss of hundreds of jobs at the company.
Are Google Shares a Good Buy?
Overall, the Street has a Strong Buy consensus rating on Google. Following a nearly 54% jump in the company’s share price over the past year, the average GOOGL price target of $155.91 implies a modest 8.38% potential upside in the stock.
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