Google is launching a payment app in India called Tez

Google has launched Tez, a new mobile wallet in India.

 

Users of the app will be able to link up their phones to their bank accounts to pay for goods securely in physical stores and online, and for person-to-person money transfers. Writing on its information portal about the app, the tech giant says:

“Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India.”

 

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While the service is launching in India today, Google has also trademarked the name in other Asian countries, specifically Indonesia and the Philippines, so there seems to be a wider strategy to expand this to other regions. Available as a standalone app on Android and iOS, Google Tez supports several regional languages, including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. Tez is compatible with over 50 banks in the country that support Unified Payments Interface (UPI).

 

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To set up and use the app, a person’s phone number for adding a bank account is mandatory. Once the number is verified via one-time password (OTP), the app will request the UPI VPA (Virtual Payment Address) if one has been created in the past, else take one through the process of creating a new ID. Next up, one can then be able to set up a PIN, and all is then set.

The app is available both for Android (Google Play) and iOS (App Store) users.

Sources: Tech Crunch, Android Authority. More information is available on the Google Tez website.

 

 

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