What is your favourite Google product? How would you improve it for the elderly people?

Google Pay is my favourite product. I would like to catagorise my thoughts in 3 broad areas to convince why googpay is my favourtite product

1. Simple- Gpay is a very simplied solution/app which is used to pay or receive the money. The beauty of the application lies in the best and simplified user experience inspite of adhering to the complex accounting an finance nuances from the backend side which is not understood by the common man in day to day lives.

2. Effectiveness- It is an effective tool to transfer the money online withi the banks without shifting the money out to any external wallets. Transfers arre super easy as compared to the netbanking option that happens within banking websites. There are not too many steps/ passwords to be folled to complete the transaction and be used handy at any time from the cell phone which remain in pockets everytime.

User Segment

1. Indivdual (Receive/pay the money)

2. Business houses

3. Banks and intermidiaries

Pain Points

1. During the era of cash  economy it was difficult to control the flow of counterfiet currencies. Small shopkeepers and footpath open shop owners tends to get scared if the buy is paying them high value currency note if it could be a counterfiet note. It is ofter difficult to determine the authenticity of high value notes for a common man.

2. Hard currency makes it difficult to trace the source of currency/income. High value currency notes increases the chances of black money flow in the economy which in turn is used for illegit purpose or for tax evasion

3. It is quite diffcult to manage change (coins and small value currency/notes) to complete the transaction in the hard currency

4. If is often difficult to remember how many transactions have been done by an indvidial in a day with hard cash

5. Risk of theft or dropping the wallet with hard currency and pick pocketing, damaged notes was common during the collection and use of hard currency

6. Use needs to phycially visit to the shop to make any payment in the cash transaction which is very well handled by Gpay

Innovation-1.  uniform scan feature which can easily transafer the money thru the scan codde of any other company wallet increases the number of trnasaction andd the trading activity.

2. The gamification inside the wallet and the referral amount often attracts the users to use the gpay

3. Ability to check the balance instantly for all the respective a/cs gives the user visibilty instantly on the available balance

Areas of improvement

1. In the present version of Gpay it is hard to bring the money back if it paid to the incorrect account and while entering the cell phone number, people end up making the wrong payments. This can be handled by an alert mechanism that should tell the user if they are makign the payment to the correct party. It can be well traced by introducing a feature to add the first name with the last four digit no. of the phone if debit=credit/receiver=payer then the transaction is fine. Else the system should not allow to send the money

2. Entering the incorret number due to fatty finger. Meaning entering rs 10000 instead of 1000. This is handled today by the EMV and POS machines where the integrated machines in the stores showss the value which needs to be paid after scaning to gpay but we can have solution for the payment which is done to the phone contacts or to the phone number of the users. Here the reciver of money can raise a voice request and giver can enter the amount which should match to the figure of the recivier or a request can be raised by the reciver that should auto display the amount that needs to be paid by the giver and amount should match off. If there is mistch in the figure that the trannsaction should be failed.

3. We can make a wallet free concept by embedding the credit cards, institution specific cards like Amoeba, afford plan for the spefic hospital and remove the need of holding physical cards

4. The Gpay system should also tel lthe user periodically how much money has been spent and how much has been saved and to which specifc areas the money has gone out like medical, entertainment, Petrol, Car, leisure.

5. Gpay should also tell the user the effective ways to make investment depending of the income and the risk apetite and few other factors like age, number of dependents. It can trigger remainders to make small savinga by trnasferring the money to monehtly SIPs/mutal funds, FDs etc. There should not be a need to go out to the respective company website instead user will be attracted to use these opportunitues within gpay due the premium advised bythe expert

6. Gpay can also the tell the rate of inflation and the acutal worth of the currency lying the in the various accounts and motivate the user to spend on the essential utilties, tickets, leisures when the rates are low and transfer the money to valuable investment opportunity to manage the earning/saving vs spending ration to the optimum level

Note- This is not for elderly peope but for any age group users

We can also integrate Gpay with Gmap that can help the small footpath open shopkeepers (vegetable and fruit sellers) to tell which is the right location to place thier shops like infront of hospital, nearby to the residential places etc

We can also integrate Gpay with Gmap that can help the small footpath open shopkeepers (vegetable and fruit sellers) to tell which is the right location to place thier shops like infront of hospital, nearby to the residential places etc

Google Pay is my favourite product. I would like to catagorise my thoughts in 3 broad areas to convince why googpay is my favourtite product

1. Simple- Gpay is a very simplied solution/app which is used to pay or receive the money. The beauty of the application lies in the best and simplified user experience inspite of adhering to the complex accounting an finance nuances from the backend side which is not understood by the common man in day to day lives.

2. Effectiveness- It is an effective tool to transfer the money online withi the banks without shifting the money out to any external wallets. Transfers arre super easy as compared to the netbanking option that happens within banking websites. There are not too many steps/ passwords to be folled to complete the transaction and be used handy at any time from the cell phone which remain in pockets everytime.

User Segment

1. Indivdual (Receive/pay the money)

2. Business houses

3. Banks and intermidiaries 

Pain Points

1. During the era of cash  economy it was difficult to control the flow of counterfiet currencies. Small shopkeepers and footpath open shop owners tends to get scared if the buy is paying them high value currency note if it could be a counterfiet note. It is ofter difficult to determine the authenticity of high value notes for a common man. 

2. Hard currency makes it difficult to trace the source of currency/income. High value currency notes increases the chances of black money flow in the economy which in turn is used for illegit purpose or for tax evasion

3. It is quite diffcult to manage change (coins and small value currency/notes) to complete the transaction in the hard currency

4. If is often difficult to remember how many transactions have been done by an indvidial in a day with hard cash

5. Risk of theft or dropping the wallet with hard currency and pick pocketing, damaged notes was common during the collection and use of hard currency

6. Use needs to phycially visit to the shop to make any payment in the cash transaction which is very well handled by Gpay 

Innovation-1.  uniform scan feature which can easily transafer the money thru the scan codde of any other company wallet increases the number of trnasaction andd the trading activity.

2. The gamification inside the wallet and the referral amount often attracts the users to use the gpay

3. Ability to check the balance instantly for all the respective a/cs gives the user visibilty instantly on the available balance

Areas of improvement

1. In the present version of Gpay it is hard to bring the money back if it paid to the incorrect account and while entering the cell phone number, people end up making the wrong payments. This can be handled by an alert mechanism that should tell the user if they are makign the payment to the correct party. It can be well traced by introducing a feature to add the first name with the last four digit no. of the phone if debit=credit/receiver=payer then the transaction is fine. Else the system should not allow to send the money

2. Entering the incorret number due to fatty finger. Meaning entering rs 10000 instead of 1000. This is handled today by the EMV and POS machines where the integrated machines in the stores showss the value which needs to be paid after scaning to gpay but we can have solution for the payment which is done to the phone contacts or to the phone number of the users. Here the reciver of money can raise a voice request and giver can enter the amount which should match to the figure of the recivier or a request can be raised by the reciver that should auto display the amount that needs to be paid by the giver and amount should match off. If there is mistch in the figure that the trannsaction should be failed.

3. We can make a wallet free concept by embedding the credit cards, institution specific cards like Amoeba, afford plan for the spefic hospital and remove the need of holding physical cards

4. The Gpay system should also tel lthe user periodically how much money has been spent and how much has been saved and to which specifc areas the money has gone out like medical, entertainment, Petrol, Car, leisure.

5. Gpay should also tell the user the effective ways to make investment depending of the income and the risk apetite and few other factors like age, number of dependents. It can trigger remainders to make small savinga by trnasferring the money to monehtly SIPs/mutal funds, FDs etc. There should not be a need to go out to the respective company website instead user will be attracted to use these opportunitues within gpay due the premium advised bythe expert

6. Gpay can also the tell the rate of inflation and the acutal worth of the currency lying the in the various accounts and motivate the user to spend on the essential utilties, tickets, leisures when the rates are low and transfer the money to valuable investment opportunity to manage the earning/saving vs spending ration to the optimum level

Note- This is not for elderly peope but for any age group users