Alphabet Inc.’s (GOOGL) Google is set to launch a new comprehensive digital payment service in India, according to The Ken, a news website based in the country.

The report, which was picked up by TechCrunch, claims that the new service will be called "Tez," the Hindi word for fast, and offer a wider selection of payment options than Google’s digital wallet platform, Android Pay. Google Tez, which could be rolled out as a dedicated app as early as next week, is expected to support Unified Payments Interface, a government-backed payment system, and various other consumer payment services, including Paytm and MobiKwik.

According to the Ken, Google Tez might be rolled out in other Asian countries, too. Government filings obtained by the website show that the search engine giant also registered trademarks for Tez in Indonesia and the Philippines. When approached by TechCrunch about its plans, Google declined to comment, but responded to Quartz with a GIF that reads "Because fast is better than slow." Quartz says the company will be hosting a press conference to announce “the launch of a new product developed grounds-up for India” on September 18.

Google has reportedly been keen to enter India’s fast growing and competitive digital payments market for the past three and a half years. Android Pay has enjoyed considerable success in the U.S., but has yet to branch out into other countries.

India’s rapidly expanding internet user base and status as the world’s second largest smartphone market makes it a potentially lucrative location for companies specializing in online payments. In fact, Google and BCG estimated that the market could be worth $500 billion by 2020. (See also: India Could Have a World-Class Digital Payments Market.)

Facebook Inc.’s (FB) WhatsApp and Swedish phonebook-app Truecaller have already made efforts to tap into this potential. However, Google’s reach — Android is the main smartphone operating system used in India — could give the firm a massive edge over rival providers. (See also: Alphabet Is the Most Compelling of the FANG Stocks.)

Google may also benefit from its already sizeable presence in India. Over the past few years, the company has invested significant capital in the country. Aside from making talent acquisitions in India and nearby Singapore, Google has also invested in local free public Wi-Fi, a data-optimized version of YouTube and the Android One and Android Go operating systems for affordable devices.

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