Google unveils ‘Tez’, an UPI-based Digital Payments App for India

In a bid to promote cashless digital transactions, Google Inc.’s UPI enabled mobile payments app, Tez, would be launched by the Finance Minister Arun Jaitley in the capital today. It would be unveiled for both iOS and Android as a standalone payments app, supporting various local languages as- English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. The app allows to send money to friends, instantly receive payments directly to one’s bank account, pay for the movie tickets, utility services and other such online transactions.

Its unique ‘Cash mode’ option transmits ‘audio’ to instantly send or receive payments to anyone nearby without sharing personal details like one's phone number or bank account. Having partnered with several popular services as RedBus, PVR Cinemas, Domino's Pizza, DishTV and Jet Airways, Google hopes to effectively boost the application’s usage. The Tez app also allows one to transfer money directly to the bank account. One has to simply link account to Tez over UPI to instantly transfer money from bank to bank. One can pay or receive money from anyone who has the Tez App or any other UPI supported app by simply selecting them from one’s contacts list or by entering their UPI ID. Designed especially for the Indian needs, it accepts payments on the spot from the chaiwala nearby, milk delivery service and even one’s favorite salon with Cash Mode. Users can pay instantly and get quick payment confirmation all while keeping their personal and bank details private.

As far as the security features are concerned all the transactions on Google Tez app are guarded by ‘Tez Shield’ to detect fraud, prevent hacking, and verify identity, quotes the company in its statement. Tez provides security throughout the payment process from customer to business and back. Google has introduced an additional PIN layout to protect any unauthorized usage. On iOS, the app supports Touch ID.

The tech-giant has tied up with banks such as Axis, HDFC Bank, ICICI and State Bank of India and others that support UPI. In addition it provides a separate business portal for online companies to get their own Business Channels on the app where they can engage directly with their customers to share offers and more. Google is bit of a late entrant at the scene; nonetheless it still seems well placed to tap effectively into India's increasingly growing digital payments market.

Source: GooglePlay