Online wallets and UPI-based payments apps become popular in India after government demonetized two currencies last year and now tech giant Google, under Make in India initiative, launched Tez — a new UPI (Unified Payments Interface) app on iOS and Android.
Unlike its major rival PayTM, Tez is not a mobile wallet system — where money is stored in the app and needs to be topped up to be used. Tez allows users to link up their phones to their bank accounts to pay for goods securely in physical stores and online, and for person-to-person money transfers. Like other UPI app, in Tez, you have to signup with the phone number that connected to your bank account. Remember to put sim is the same device where you installed Tez.
Features Of Google Tez :
- Easy interface
- Instantly send or receive payments to anyone nearby without sharing personal details like your phone number or bank account
- Transfer payments directly to any other bank account just by adding account number and IFSC code
- Also, transfer payments to other UPI based apps
- Transfer via QR code
According to Google, your money is secured with Google’s multi-layered security and 24/7 protection by Tez Shield. It helps to detect fraud, prevent hacking, and verify your identity. And also each transaction is secured with your UPI PIN and the app is secured with a Google PIN or your screen lock method such as fingerprint, pattern lock.
Tez works with all major Indian banks and with a vast majority of smartphones, so you can pay or get paid by almost anyone. Tez offers language support for English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. Merchants with individual current accounts can receive up to ₹50,000 per month with UPI with no fees. Beyond that, your bank may charge fees or may impose additional requirements.
Tech majors like WhatsApp and Facebook are also engaged in dialogue with the NPCI, a body set up to promote retail payment, UPI-enabled payment on their platforms.
Try Google Tez now. Here the referral link so we both be paid with Rs.51 when you make your first transaction :