Happy Tuesday! Google Pay is working to launch a co-branded credit card. This and more in today’s ETtech Morning Dispatch.
Also in the letter:
■ Ola Electric’s Q1 show
■ TCS rolls out Q1 variable pay
■ Insurtech Plum’s new foray
Fintech majors are counting on co-branded cards in returns play
Google Pay, India’s second-largest payment app, is in discussions to build a co-branded credit card with Axis Bank, according to two sources familiar with the matter.
Driving the news: Google has stuck mainly to digital payments in India, making only a cautious entry into financial services. But that’s beginning to shift. After launching personal and gold loans, the tech giant is now eyeing a broader play—lending its distribution heft to banks and non-banking financial corporations (NBFCs). The credit card push is the next step in that strategy.
Also Read: NPCI ups RuPay credit card play against rivals
What does this mean? It marks a shift for Google, which has so far avoided regulated businesses in India and pulled back its fintech bets globally. While Paytm and PhonePe ventured into insurance, broking, and credit, Google stayed in the payments lane. That might be about to change.
Also Read: PhonePe’s 5% dilemma: Payments still dominate revenue as it gets IPO-ready
Zooming out: The move comes as the government has made it clear that UPI will stay free for merchants. Rival PhonePe has already launched a co-branded card. Despite tight regulations on such partnerships, the branding upside is significant for both Google and Axis Bank.
Also Read: Cash may return as king as small vendors shun UPI
AI becomes spiritual guide for customers on devotional apps
Spiritual and devotional platforms like AppsForBharat, Utsav and Bhagva, along with astrology startup Vaya, are increasingly turning to artificial intelligence to sharpen their offerings. From real-time chant translation and priest matching to astrological predictions based on planetary movements and birth charts, AI is fast becoming central to their product playbook.
Enhancing experience: The goal is to deepen user engagement and elevate the virtual spiritual experience. Jagriti Motwani, founder of Bhagva, said the platform now uses AI to pair devotees with pandits based on the occasion, type of puja, and specific spiritual needs.
Resulting in user acquisitions: This isn’t just about tech for tech’s sake. While puja bookings and related ecommerce still drive core revenue, founders say AI-led content and tools are helping hook and retain users. At Utsav, cofounder Ankita De noted that nearly 50-60% of new users come in through content-led discovery.
Also Read: Leap of faith: Spiritual apps on global quest target Indian diaspora
Uptick in funding: Investors are taking notice. Earlier this month, AppsForBharat raised Rs 175 crore in a round led by Susquehanna Asia Venture Capital. Bhagva brought in Rs 8.6 crore in April, while Utsav secured Rs 6.35 crore from Equanimity Investments back in January.
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Ola Electric’s poor Q1 show prefaces profitability push, shares rally
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