Google launches Tez, a digital payments app for India

Google launches Tez, a digital payments app for India

While Tez is only launching in India today, Google may be bringing the service to other countries in Asia, like Indonesia and Philippines, according to Techcrunch.

You can download Tez from Google Play and the App Store. The company has partnered with HDFC Bank, ICICI, and State Bank of India for backend processing. Tez is Google's payment app for India, which uses the UPI interface to connect to a user's bank account and for transactions. So, your payments are directly from bank account to bank account.

As had been widely expected, Google has unveiled its new mobile payment service for India. So for example, the next time you're eating at Dominos or traveling through RedBus, you can make digital payment using Tez.

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India's billion-plus customers are in the sights of internet giant Google. Also, the mobile app supports seven Indian languages including Hindi, Bengali, Gujarati, Marathi, Tamil and Telgu, besides English, so that users of nearly all major Indian languages can use the app with utmost ease. The new app from Google features support for numerous Indian banks right at the launch, allowing you to make hassle-free payments. To address this, Tez comes with a feature called "Tez Shield" that works like a fraud-detection mechanism to protect your money.

There's also a "Cash mode transactions". You will have to provide basic bank details such as account number and IFSCcode, as you would do for internet banking or mobile banking. If the friend has not linked their bank account to Tez yet, Google does highlight that when you are making a payment or asking for money. The payments can be made for online goods, physical stores, and person-to-person transfers. Apart from the mobile payments, it can be used as an online payment mode on the websites with Tez logo. It added that Merchants with individual current accounts can receive up to Rs 50,000 per month with UPI with no fees. After that, the bank may charge fees or impose additional requirements. Under the Tez Scratch Cards, one can win up to Rs 1000 with each transaction and he/she be eligible to win Rs 1 lakh every week with Lucky Sundays. Once you get past the initialization process which also lets you set up a PIN, you'll land on Tez's home page. Interestingly, these offers do not require you to apply any code during any transaction.

After the verification is completed, you will see the bank account details and the UPI ID on the screen and for security, Tez app will ask you to enter the UPI PIN to authenticate the account.

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