Google launches UPI-based payments app Tez
California,Sept18:Google today launched an UPI-based payments app called Tez to promote digital payments. The Tez app, developed by Google, was launched by Finance minister Arun Jaitley in Delhi, who also made the first transaction on the Google Tez app. Speaking on the occasion, the finance minister said: “Google team saw a great potential in the remonetisation after the demonetisation.” In a tweet, the Ministry of Finance said, ” 5 key parts of Tez :Made for India first, transact directly from bank account, makes payment simple, built around your ease & super secure.” Tez also offers scratch cards to its users on transactions of worth Rs. 50 or more, which will allow them to win up to Rs. 1,000 with each transaction and be eligible to win Rs. 1 lakh every week with ‘Lucky Sundays’ offer.
Here are five things to know about the payments app Tez:
1) The Tez app is available on Android and iOS and is powered by UPI, a payment system developed by state-owned NPCI.
2) Other than English, Tez app supports various local languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu. One can change the language option anytime.
3) Tez app needs to be linked to your bank account and you can make payments directly from your bank account. Tez uses UPI and works with major banks including SBI, HDFC Bank, ICICI Bank and Axis Bank. (See list of supported banks)
4) Using Tez, one can send money instantly to another Tez user without having to share personal details like bank account number, phone number etc.
5) Further, Google says that each transaction on Tez is secured with UPI PIN and with a Google PIN or your screen lock mode such as fingerprint.