Google’s payment app Google Tez goes live
18 Sep 2017
Hours ahead of the launch of Google Tez, a new payment app specifically made for India, it has been made available in the Google Play store. The app uses the UPI interface to connect to a user's bank account for transactions.
The app, which will take on the more popular apps like Paytm and BHIM, may help Google gain a significant share India's growing e-payments market, according to commentators. However, it will first need to address challenges that are specific to India's e-payment market, before it can become a success.
Tez currently supports 55 Indian banks including popular ones like the ICICI Bank, State Bank of India and HDFC Bank. The app is available in English and in seven Indian regional languages. It is available for both iOS and Android operating systems.
Although a number of UPI-based apps in India are available, Google has on offer, several new features in Tez, including "proximity" transactions that allow people to carry out "cash" transactions without revealing their phone number or bank account.
"Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. 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 also plans to launch a version of the app for businesses but businesses need to register to show their interest in the app.
Google's Tez will sync with the user's mobile number much like in the BHIM app. The number should be the same number which is synced with the bank account.
The app supports seven Indian languages, including Hindi, Tamil, Bengali, Gujarati, Telugu, Kannada, Marathi, apart from English. Users can change the primary language through 'settings'.
