Google Pay For Dummies

Google pay (Tez) gives scratchcards for making payments. Sometimes, the user is rewarded, and at other times, the user is not.

Tez doesn't randomly reward users. It must be based on an algorithm.

For starters, Tez could be rewarding more to a user who uses it less frequently. It could be rewarding more to an Android user compared to an iPhone user. It may be rewarding more to a user who uses Paytm regularly compared to a user who doesn't have the Paytm app.

The intent of doing so may not be to reduce the reward spending, but it could very well be to use parameters to reward the right person to gain more market. Similar to the concept of optimizing risk rather than minimizing risk in Portfolio Management.

The overall transaction volume in Tez is less compared to other wallets, but it can catch up with time. Since Google has many products/avenues, Tez can learn more about us than other wallets can.

From a user's view, the reward money is added to the bank account directly -instant gratification. And it’s not only about the money. It's the uncertainty involved and the joy of trying one's luck -great marketing.

Even if Tez doesn't make profits in the short run, it's okay. Google knew everything about its users, except for where they spend the money. Now that's sorted too.

Orginally published on LinkedIn