Google Introduces Tez Mobile Payment App in IndiaSeptember 18, 2017
Google has introduced a new mobile app “Tez” a simple and secure way to pay for things, big and small, online and offline in India. Tez is a payments and commerce app built for India on top of the Unified Payments Interface (UPI) standard.
With Tez, you can pay directly from your bank account, which means your money is safe with your bank and there’s no need to open a separate account or worry about reloading wallets and works with all major banks, including Axis, HDFC Bank, ICICI and State Bank of India.
Tez works with all major Indian banks and the vast majority of smartphones, so you can pay or get paid by almost anyone. And with language support for English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu, sending money is easy to understand.
The Tez Shield works 24/7 to help detect fraud, prevent hacking, and verify your identity. Each transaction is secured with your UPI PIN and the app is secured with a Google PIN or your screen lock method such as a fingerprint.
Business owners and shops can use the Tez app with their individual current account to start accepting digital payments today. Payment goes directly to your bank account with no fees. There is also Tez for Business program that lets businesses accept payments up to Rs. 50,000 per month for your business with UPI with no fees. But, more than Rs 50,000 your bank might charge fees or add more requirements.
Tez enables you to make cash like payments with Cash Mode which is ideal for paying the auto-wallah or sabzi-wallah. Bring two smartphones near each other, hit pay or request, enter your UPI PIN and the payment goes instantly from one bank account to another. Cash Mode is built using proprietary AQR (Audio QR) technology, which is similar to QR codes but more convenient and more secure. And unlike NFC, it works on almost any smartphone in India.
Google’s vice-president for Next Billion Users, Caesar Sengupta, launched the app at an event in New Delhi in the presence of country’s Finance Minister Arun Jaitely.
Sengupta says, “Google Tez app is designed for India and made in India. It supports seven Indian languages and more will be on the way. Our focus with this is on digital payments. Google will partner with companies like Nokia, Micromax, Lava, Panasonic and Xolo for pre-loading the Google Tez app on upcoming smartphones from these brands.
Google’s Tez app will be made available for Android and iOS users.