Google Tez UPI-based payments app goes live
- Author: Terrell Bush Sep 19, 2017,
Sep 19, 2017, 0:34
Finance Minister Arun Jaitley launched Google Tez App for Easy Digital Pay Monday in New Delhi. "Make all payments big or small, directly from your bank account with Tez, Google's new digital payment app for India", writes Google in describing app.
Google has just recently launched a special mobile application, called as "Tez", for the objective of allowing its widely growing numbers of customers in India, to make payments and other transactions easily. This app works smartly as it deduct the money from your bank account directly and you don't have to store any money on the app. Language support is great, with English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu all there.
After being rumoured for months, Google launched Tez, its UPI-based mobile payment app in India.
Tez, a Hindi word which means fast, works in partnership with four Banks - Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India (SBI)- to facilitate the processing of payments across over 50 UPI-enabled banks. With a clean interface, Tez app is truly user-friendly. Though you can use your existing screen lock or create a new lock for Google Tez. Like most UPI-based apps, Tez will allow transfers of up to Rs 1,00,000 and up to 20 transactions per day. Google has partnered with many companies to ensure the success of the app. You can also see it as an alternate to BHIM app.
And unlike mobile wallet systems, users can skip the additional step of managing a separate wallet fund, and transfer money to and from their accounts directly. Here, one thing important is that use the same mobile number for both bank account and the application.
The app allows users to do financial transactions like sending money, receiving payments directly into their bank accounts and paying bills. The app makes payments directly from your bank account. Tez provides security throughout the payment process from customer to business and back.
For businesses, Google has also launched a Tez for business programme. After you've entered the details, a bank OTP is required for verification along with the UPI Pin.
To get started, people will have to choose their bank from a list of UPI-supported ones.