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.
The digital payments app, which supports several local languages, including Hindi, Bangla, Gujarati, Kannada, Marathi, Tamil and Telugu, will allow users to pay directly from their bank account instantly, without revealing the details such as account or phone number.
“Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payments app for India,” Google notified users on its newly-launched portal.
Google has tied up with several banks through the state-sponsored Unified Payments Interface (UPI) platform, including Axis Bank, HDFC Bank, ICICI Bank and State Bank of India. Tez is available on the Play Store as well as the Apple App Store, and works seamlessly on both iOS and Android.
The Tap for Cash Mode, however, has been the most innovative part of the app. It transmits “audio” to identify a nearby device, showing the contact details of the user, and lets you pay or receive money instantly.
Google has also tied up with several online partners such as Dominos, RedBus, PVR Cinemas, Dish TV and Jet Airways. The company has also launched a separate business portal for tech startups to accept Tez payments.
Like this report? Sign up for our daily newsletter to get our top reports.