Mobile payment options have been on a rise and with wallet options like PayTM that got a lot more recognition after the Indian govt. decided to demonetize two currency notes last year, the adoption rate for digital payments through smartphones has been high. Google has been working on its own platform and finally, that is official today. Named as “Tez”, this is a mobile wallet that links to your bank account and helps in easy, instant, and secure digital money transfer.
Send money to friends, instantly receive payments directly to your bank account & pay the nearby café with Tez, Google’s new digital payment app for India. Using NPCI’s (National Payments Corporation of India) Unified Payments Interface (UPI), money transfers are simple & secure with Tez.
The top features of the Tez app include the following.
- Linking your bank account and transferring money directly to your bank account, and this happens with UPI
- The app is said to have a security feature with the name “Tez Shield” that is Google’s multi layered security and 24/7 protection
- Cash Mode in Tez helps you send or receive funds to/from accounts nearby without having to share any important details like phone number or bank account number
- Payments can also be done to contacts on your phone if they have a Tez account or have a UPI address enabled
- Every transaction is enabled with either the Tez PIN or the smartphone lock, whichever you choose to have
- The app has multiple language support with the languages including English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu
- Get Tez Scratch Cards (TM) in the app and be eligible to win up to ₹1,000 with each eligible transaction. Plus, your weekly transactions (with each transaction over Rs. 50) enroll you in Tez’s Lucky Sundays contest where you could win ₹1 lakh every week.
Merchants with individual current accounts can receive up to ₹50,000 per month with UPI with no fees. Beyond that, your bank may charge fees or may impose additional requirements.
In the near future, Google says that it will be adding debit card and credit card payment features on the app and there will also be reminders for recurring bills.
So far, for the time that we have used the app, it did look very simple and easy to use, and the scanning for users with Tez account around you was swift enough.
The banks that support the payments through Google Tez are the ones that support UPI payments and there is a big list of that already, including ICICI Bank, HDFC Bank, IDBI Bank, State Bank of India, among others.
Open this link from your mobile device to download Tez and get an instant bonus of Rs. 51 on your first transaction – Click here.
Here’s a guide on how to use Tez app.
Note – If you have a smartphone with unlocked bootloader or a custom ROM, the app might not work and will show that the software the phone is running on is not secure. There are some other issue as well, which are all listed here – List of issues with Tez app.
The link for iOS doesn’t seem to work right now, we will update it as soon as it works.