From paying for movie tickets and utility bills to transactions online as well as offline, Google Tez can do it all. The digital payment scenario in the country already has experienced a major boost since the government is encouraging people to go cashless. Global rivals Amazon and Facebook are also trying to get into the action. So here is the Google Tez Launched In India
Google Tez Launched In India
What Is Google Tez?
Google Tez is a digital payments app powered by UPI and is available on Android and IOS. The app will let the users link their phones to their respective bank accounts to pay for goods and services in a secure manner. It will work for online as well as offline transactions, and also allow to make person-to-person money transfers.
Google Tez Is Simple and Easy
Google Tez supports majority of local languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu. It has a very simple and straightforward interface. You will simply need to link your bank account by verifying your credentials. The app will send a text message from your registered phone number to confirm the registration on Tez app. Once verified, you need to add a UPI PIN, and you can start making transactions immediately.
Google Tez features a ‘Cash Mode’, which allows you to make person-to-person payments to people who are in close physical proximity. It achieves this by transmitting ‘audio’ waves which are inaudible to human ears. It identifies the person nearby and will let you to pay to or receive money from the user. Tez has partnered with HDFC Bank, ICICI Bank and State Bank of India for backend processing.
Not A Mobile Wallet
Tez is not a ‘mobile wallet’ like Paytm or Mobikwik. Here, money does not need to be stored in the app, as the user can transact directly from their bank account. Tez allows you to link your phone with your bank account and lets you use your smartphone as a way to make transactions straight from your bank account.
Although Tez is linked directly with your bank account, there are transaction limits. For money transfers, the limit is Rs. 1,00,000/- per day across all UPI apps and 20 transfers in a day. For a valid transaction, the minimum amount needs to be Rs. 50/- per user. For current accounts and merchants, the limit is Rs. 50,000/- per month with UPI for free. After the limit, transactions will be charged banking fees.
Google Is Late, But Not Too Much
The Search Engine giant is the latest international entrant in the ever-growing digital payments market. Samsung already has their homegrown payment service in India since last year. Amazon and Facebook are also gearing up to come up with their versions of UPI enabled payments soon.
Also, read: Airtel Launches 4G VoLTE Services In India
Finally, we hope friends you all enjoyed all the above ” Google Tez Launched In India ” if you really enjoyed our list then don’t forget to appreciate our efforts in comments below.