Google Tez has been officially launched for Indian users and the new mobile payments app is now available for download. Tez app allows its users to link the app to their bank accounts, and make the official as well as personal transactions and payments just using their phones only.
You can send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. With Tez, you can transfer money directly to your bank account. It also supports various local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.
Google today launched Tez, its new digital payment app developed specifically for India.
After downloading the application from App Store and Play Store, you'll need to add your mobile number for OTP verification. However, Tez can be used for making payments to any bank in India that support UPI. There's also an interesting Cash Mode tool that searches for nearby Tez users.
At least one Google enterprise account user was miffed on finding that Tez did not work for users like him. As per the description, "Businesses also get their own Business Channels on the Tez app where they can engage directly with their customers to share offers and more". In a day, a user can transfer a maximum of Rs. 1,00,000 ($1,560) across all UPI apps.
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On Monday, NITI Aayog chief executive officer Amitabh Kant tweeted that the government-backed payments app BHIM had been downloaded three million times since its 30. The number should be the same number which is synced with the bank account. The interface looks simple and users are asked to enter their bank account number and authenticate their ownership.
The company said Tez Shield "helps detect fraud and prevent hacking", aiming to protect every transaction and ensure security. Post this limit, there will be additional requirements, along with bank fee. If that person is with you, then simply scanning the QR code and utilizing the Cash Mode will make the payment.
Small business owners can use Tez with their current account to start accepting digital payments.