Published: Tue, September 19, 2017
Industry | By Faith Ward

This is how Google's digital payment app 'Tez' works

This is how Google's digital payment app 'Tez' works

Google Tez has been officially launched for Indian users and the new mobile payments app is now available for download.

The Indian banks which support this new Google Tez Payment gateway are Axis, HDFC Bank, ICICI and State Bank of India.

You can send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala.

Tez will support UPI, enabling users to link their mobile phones to their bank accounts and facilitating payments to merchants for goods purchased as well as to and from other users of the app.

The app supports seven Indian languages, including Hindi, Tamil, Bengali, Gujarati, Telugu, Kannada, Marathi, apart from English.

After months of speculation, search engine giant Google on Monday announced its foray into India's burgeoning digital payments market with Tez, its UPI-enabled mobile app.

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The Tez app is available now for download on Google's Play store, and Apple's App Store. The app also lists all the user's contacts who are also using the Tez app.

Tez works with all the major banks in the country. Like most UPI-based apps, Tez will allow transfers of up to Rs 1,00,000 and up to 20 transactions per day. It is to be noted that the transactions need to be Rs 50 and more per user. The app poses similarity to the existing government-sponsored payments app BHIM. There is no need to open a separate account or worry about reloading wallets.

The application will use Unified Payments Interface and will be linked to bank accounts directly. It seems to have been built on the grounds of Android pay and all online transactions are connected directly with the bank accounts. Tez provides security throughout the payment process from customer to business and back.

Once found, a person can send or receive money without having to share their phone number or bank account details. Cash Mode helps in sending money to people nearby without sharing private details like your phone number. Post this limit, there will be additional requirements, along with bank fee.

Another feature enables small businesses to accept Tez payments directly into their savings or individual current accounts. If you've already set up your account, the payment process is simple, and similar to Paytm transactions.

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