Google Launches Tez- A New Payments App

Google Launches Tez

Google has launched its UPI based payments app called Tez and it is offering some referral deals to its customers. The Google Tez app is now available on Google Play Store. The launch event in New Delhi was conducted by Caeser Sengupta, Google VP for the popular Next Billion Users project. The Tez app launch event was also attended by Finance Minister Arun Jaitley. While the Google Tez app has been seen on the Android phones, it is still unavailable on the iOS devices. UPI, started by NPCL, is a system of quick and easy payment transfers from one bank account to another. Users, with UPI apps, can just use their phone numbers to make direct payments to the bank accounts. You will not need any account number, bank IFSC code and such details. Your mobile number is your Virtual Payment Address (VPA), but you have to use the same number that is linked to your bank account.

Google Tez mobile app is similar to Indian government’s BHIM app. Also, this app, apart from English, also supports 7 other Indian languages, like Hindi, Bengali, Kannada, Tamil, Telegu, Marathi, and Gujarati. Users will be able to change their preferred language anytime they want. Users can download the mobile app from the play store, but in order to get started, they need to have the same phone number (linked to the bank account) in the same phone. You can also sync it with your Google account, but here too you will have to enter your phone number at first. After this, you will have to setup Google Pin, a secure lock system, which will be required every time you open the application. However, it is not the PIN needed to carry out transactions.

If you need to carry out UPI based payments, you need to link your bank account with the app. For this, you need to have your debit card with you as the details will be required. Once details are filled, two things will be required- bank OTP and UPI Pin. The UPI Pin is something that you will have to create for the first time. This process will create a UPI Id for you in the Google Tez app. You can also close this account if you switch to another mobile.

In the Google Tez app, you can allow it access to your phone contacts, which will help you make payments (using Pay option) or you can ask your friends for money (using Request option).

Interestingly, there is a cash mode option in the Tez app as well, which will help you make payments to a nearby person without needing to enter the phone number.

Now, about the launch day offers, Google Tez is offering Rs 51 to users if they invite a friend and he/she uses the app. You can invite and add as many people you want, but the offer is limited to April 1, 2018, and Rs 9,000 in one year. Also, for the first week, every payment made above Rs 50 will give you a scratch card and you may win a lucky draw of Rs 1 lakh.

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