Google Tez, a new digital payments app based on NPCI’s UPI platform, was launched in India on Monday.
“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,” explained Sengupta, Google’s vice-president while launching the app at an event in New Delhi in the presence of Finance Minister Mr.Arun Jaitely.
Tez is Google’s play to replace cash transactions and become a more central part of how people pay for things, using their mobile to do so.One of the unique features included in Google Tez app is “Cash Mode” which helps you send money without needing the recipient’s number or QR codes, instead of using an audio matching system.
Google said the technology took months of testing to fine tune and is built on UPI’s bank to bank transfer platform and already has 50,000 users who have processed 16,000 transactions worth Rs 11 lakh.
How is it different from other digital payment apps?
Tez works as an extension of one’s bank account, which means that unused money remains in the bank earning interest.
With Tez’s unique feature ‘Cash Mode’, you can send money without needing the recipient’s number or QR codes, instead of using an audio matching system.Simply it functions similar to Indian government’s BHIM app.
Users will be able to change their preferred language anytime they want. Users can download the mobile app from the play store, but in order to get started, they need to have the same phone number (linked to the bank account) in the same phone
What are the extra benefits of using Tez app?
Google has brought out an introductory offer on referrals which allows users to pocket ₹51 whenever the new user makes a transaction. A maximum of ₹9,000 can be redeemed every year. The offer is valid until April 1, 2018.It supports seven languages including English, Hindi, Bengali, Kannada, Tamil, Gujarati, Marathi, and Telugu.