Tag: Google payments india

Nettie James
September 19, 2017

Google has finally launched a digital payment app called 'Tez' in India.

Finance Minister Arun Jaitley, in tune with the Modi government's encouragement for digital payments, has launched Google's mobile wallet and payments app "Tez", specifically designed for India. UPI is supported by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India. By encouraging people to use TEZ for simple, fast and safe money transfers from your bank.

Unlike Paytm, Tez doesn't require users to top up money in the app. Tez makes payments hassle-free free by allowing users to pay directly from a bank account.

The application provides extensive language support from English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. Also, there is a different "Tez for Business" app too.

Did you find Tez Payments app interesting?

The payments can instantly be started once all the required steps are completed. Once again we'll have to see how this works when Google officially launches the app and where the cash angle fits into this. Now you use your Google pin or use your screen lock.

Additionally, there is also a separate business portal for online companies to integrate as sellers to accept Tez payments. Google's newly introduced feature Cash Mode enables one to pay without sharing bank details or phone number. The application has been made available on both Play Store and iOS' app store. The app comes with tons of features, which lets you make payments and transfer money easily. There, choose the bank name and your account will be automatically detected with the help of phone number. Users also stand to win Rs 1 lakh every week with "Tez Lucky Sundays".

This is how you can actually setup the Google Tez application to send and receive payments through your own bank account.

Google has partnered with four banks - Axis Bank, HDFC Bank, ICICI Bank and SBI Bank for this service.

Moreover, it supports over 50 UPI enabled banks, UPI which is India's official Digital payment method. You don't need to hunt for coupon codes. However, it will first need to address challenges that are specific to India's e-payment market, before it can become a success.

Other reports by Insurance News

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