Google on Monday officially marked its entry in the Indian digital payments market with the launch of Tez, a mobile payments app based on the UPI platform. The consumers will be able to use Tez to transfer money between accounts and send/ receive payments from others.
“Send money to friends, instantly receive payments directly to your bank account & pay the nearby café with Tez, Google’s new digital payment app for India. Using NPCI’s (National Payments Corporation of India) Unified Payments Interface (UPI), money transfers are simple & secure with Tez,” Google explained.
The Tez application is now available for Android and iOS platforms and can be downloaded from Play Store or Apple’s App Store.
At this point, Tez is solely dependent on the UPI platform for making transactions and you will have to link your bank account to use the app. There is no integration of third-party wallets like PayTM or Mobikwik, as as rumoured earlier, but Google plans to add support for payments through credit and debit card in a future update. There is also no NFC-based contact-less payment support is the app.
Here is a quick look at the Tez features
- Pay and receive money directly from your bank accounts
- Pay your friends and family anywhere anytime
- Multiple layers of security from your bank, UPI, and Google
- Transfer money to anyone ‘nearby’ without sharing private details like phone numbers, email address. Google is using audio QR tech to identify nearby Tez users.
- Built for India with support for English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu
- Pay on websites and app with Tez wherever accepted
- Works with all Indian major banks, all you need an Indian mobile number and a bank account.