Published: Tue, September 19, 2017
Tech | By Constance Martin

Google Announces Tez, The India-Focused Mobile P2P Payments Platform

Google Announces Tez, The India-Focused Mobile P2P Payments Platform

With Tez's Cash Mode, customers can instantly send or receive payments to anyone nearby without sharing personal details such as their phone number or bank account.

The Indian banks which support this new Google Tez Payment gateway are Axis, HDFC Bank, ICICI and State Bank of India.

Tez is built on India's Unified Payments Interface (UPI) that allows round-the-clock instant money transfers between two bank accounts, using what are called virtual payments addresses. Also, besides English, the app supports languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu.

Finally the much awaited UPI based payment and wallet application, "Tez", by Google has been launched in India on Monday.

Tez, which means fast in Hindi, is a standalone payments app that can be downloaded on Android and iOS devices. Users can see their friends using Tez and request and pay money. Although people have liked the design of the app - it is a typical Google app, easy to use and designed with flat and classy material design - many are complaining that the app is not connecting to their bank accounts. After that, the user has the option of setting a secure lock code for the app via Google Pin or they can just use the screen lock pattern/pin/password. This includes the likes of Amazon, Flipkart and Uber which recently launched UPI payments through its app. Apple is also said to be working on a payments solution for India. Also, there is no requirement to open any separate account and one need not worry about reloading the wallet.

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If your primary number is the one linked to your bank account, then you need to make sure the smartphone has that SIM inserted in it. Payment goes directly to their bank account.

The app also comes loaded with Tez Shield, which adds some extra layer of security and prevents it from getting hacked. Above that, banks might start charging fees. Once you have done that, you will be able to send as well as receive money from anyone using the Tez or other UPI supported apps out there. Hence, Tez can be used with all the major banks that support UPI in India.

Google Tez app has been launched on September 18, 2017.

Another feature enables small businesses to accept Tez payments directly into their savings or individual current accounts.

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