Google Launches Tez, a Payment app
Google has officially launched the much-awaited application, Tez, which is new payment app for users which will allow them to link their phones with the bank accounts. Tez has debuted on iOS as well as Android platform, providing its users to make payments directly to the stores, unlike PayTm or PhonePay which uses their own wallets.
The UPI based app is also featuring the person to person money transfer and has a money transfer limit of 100,000 daily and 20 transfers. The app is initially launched for Indian users and will later be expanded to other countries.
The app is coming with exciting offers like ‘Lucky Sundays’ to attract Indian users. At present, the application supports around 55 Indian banks including ICICI, SBI, HDFC, etc and is available in English and 7 regional languages.
The app Tez, launched by Mr. Arun Jaitely in Delhi, can prove to be a gamechanger for the Indian market, as it has Unified Payments Interface and bridges the gap between digital wallet and banking accounts. Using this application, users can send money to another app user, without the hassle for sharing any personal information. Google has confirmed that each Tez transaction would be safe and secured with UPI PIN along with a Google PIN to avoid misuse.