After being rumoured for months, Google launched Tez, its UPI-based mobile payment app in India. Named as "Tez", this is a mobile wallet that links to your bank account and helps in easy, instant, and secure digital money transfer.
In a bid to promote cashless digital transactions, Google Inc.'s UPI enabled mobile payments app, Tez, would be launched by the Finance Minister Arun Jaitley in the capital today. In a day, a user can transfer a maximum of Rs. 1,00,000 ($1,560) across all UPI apps. #GoogleTez speaks 8 Indian languages, works with 55 banks and is on most smartphone platforms.
Google Tez now supports Hindi, English, Marathi, Tamil, Gujarati, Telugu, Kannada and Bengali. To recall, UPI or United Payments Interface enables one to send or receive money through a virtual address, doing away with the need of putting details such as NFSC code or other related bank account details.
It's worth noting that Google has already trademarked the Tez name in other Asian countries, so don't be surprised if this app is launched in other locations as well.More news: In France, the Americans poured acid
Google has not forgotten to secure the payments. You can also see it as an alternate to BHIM app. You can also cancel requests.
Google is working to add more businesses into their fold. It supports a long list of banks such as Axis Bank, Central Bank of India, Citi Bank, DBS Bank, HDFC Bank, ICICI Bank, IDBI Bank, Yes Bank and many more.
Google has dived into the mobile payments service in India and no it's not Android Pay. This commerce app allows the users to make cash-like payments with Cash Mode and chat with other contacts among others. All this without sharing bank details or phone numbers. Also, Airtel Payments Bank option is present as well in the bank accounts section. If you need to pay for and split a bill for a meal, for example, you can use Tez make payments. Tez app, which translates in English to "being fast", can be installed from the Google Play Store and Apple's App Store. The user can also do all this by sending a message from the registered number through "Tez" interface. Google also announced "Tez for Business" which offers businesses new ways to unlock the potential of digital payments and engage their customers.