Google Tez has a Cash mode option that lets users transmit audio to identify the person nearby them and pay or receive money to that person.
Tez works with all major Indian banks and the vast majority of smartphones - so you can pay or get paid by nearly anyone. It also supports various local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.
The app offers a different service than PayTM, the most successful UPIpayments app in India right now and might be able tp differentiate itself from PayTM but it may take a while before people accept Tez as their primary mobile payments app.
The app will be available to download on all iOS and Android devices. Using NPCI's (National Payments Corporation of India) Unified Payments Interface (UPI), money transfers are simple & secure with Tez. With a clean interface, Tez app is truly user-friendly.
Tez works with all of the 55 banks on UPI. To know more about the app and promo offers, you can visit the website here. Apple is also said to be working on its own version of payment application it intends to launch in India.
Google has officially launched its mobile payments app Tez.
Enables users to transact with an existing bank account and no need to open a separate account. Here, one thing important is that use the same mobile number for both bank account and the application. This is made possible as the virtual address is linked to the bank account.
Since, with Tez, your money is in your bank account, it continues to earn interest in contrast to payment apps that store money in the app.
The company said Tez Shield "helps detect fraud and prevent hacking", aiming to protect every transaction and ensure security.
In order to make payments through UPI, first you have to enter the account number. After that, the bank may charge fees or impose additional requirements. If you win, the rewards will directly go into your bank account. After verification the Google will prompt you to add a UPI PIN and you can start making payments.
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