Jaitley launches Google's payments app for India 'Tez'

Google Tez UPI based mobile payments app launched in India

Today, Google has launched their new mobile payments system in India dubbed "Tez", meaning "fast" in Hindi and Urdu. The Google Tez is more like Apple Pay where the app links your phone with your bank accounts to let you use your phone as a way to deduct payments from those accounts.

"Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala". Tez weighs about 7MB in size and is claimed to work with a vast majority of Android smartphones, going back to Android 4.4 Kitkat for support. Also, besides English, the app supports languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. The Google Tez app is available for both iOS and Android devices. However, Tez can be used for making payments to any bank in India that support UPI. With a clean interface, Tez app is truly user-friendly. Plus, weekly transactions enroll the user in Tez's Lucky Sundays contest where one could win Rs 1 lakh every week.

Moreover, the app can be utilized return to make online transactions on PVR Cinemas, RedBus, Domino's Pizza, Jet Airways, Dish TV and many such online services. The giant was working on its new Payment service as we have seen a number of its leaks in the past. Google's Tez is based on UPI platform, which stands for United Payments Interface and has been made by the National Payments Corporation of India (NPCI). Users don't need to do anything, just make transactions and the winnings will go straight to your bank account- that is, if you win!

Google has launched a feature called Cash Mode where one can pay without sharing bank details or phone number.

For Google Tez, the company has partnered with Axis Bank, HDFC Bank, ICICI Bank and SBI Bank. After installing the app form Play Store it will ask you to enter your bank account number and verify of your ownership. Since Aadhar card also has details like name, age, contact number, address, email ID and parent's name this means that the users will have to share these too.

Google has also taken care of security by introducing Tez Shield, which works along the lines of a fraud detection mechanism. Beyond that, your bank may charge fees or may impose additional requirements. After verification, it will prompt the user to add a UPI pin code and you are done.

Another feature enables small businesses to accept Tez payments directly into their savings or individual current accounts.



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