Google enters the fintech game with UPI-based Tez app

Isaac Cain
September 19, 2017

To make or receive payments or paying bills the app, a user has to link the Google Tez app to his bank account.

Apart from English and Hindi, "Tez" app supports various Indian languages such as Bengali, Gujarati, Marathi, Kannada, Tamil and Telugu.

Google has officially introduced a mobile payments and commerce app in India, called Tez, as was reported would happen last week.

First, you need to download the Google Tez app from the Google Play Store or Apple App store. Google Tez app comes with Unified Payments Interface (UPI) standard. You can also watch all your friends who are using Tez and can request and pay money. Google has partnered with Nokia, Panasonic, Xolo, Micromax and Lava, users buying phones from any of these companies will get Tez app pre-installed.

Using Tez lets you win huge rewards by way of Scratch Cards of upto Rs 1,000 which can be won with each eligible transactions. The Tez app is secured via a Google PIN or your phone unlock method - fingerprint or password - and each transaction in the app is secured with the user's UPI PIN. The giant was working on its new Payment service as we have seen a number of its leaks in the past. Google's Tez app debuts at a time when the race for a digital payment app is heating up with WhatsApp and Samsung Pay and others bringing their own solution to India. This basically means, you account will be your "wallet", similar to your bank debit cards. Supported banks include Axis, HDFC Bank, ICICI and State Bank of India and other banks that support UPI.

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Speaking about the bank, yes you need a bank account as you link it with the app when you register, and you also need a UPI pin as well. Google assures a multi-layered security and 24/7 by Tez shield.

It's worth noting that Google has already trademarked the Tez name in other Asian countries, so don't be surprised if this app is launched in other locations as well.

Once found, a person can send or receive money without having to share their phone number or bank account details.

The payments can instantly be started once all the required steps are completed.

Another feature enables small businesses to accept Tez payments directly into their savings or individual current accounts. If you know the iD of a receiver you can simply input that and make the payment.

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