Tech giant Google has entered into competitive digital payments space in India and launched its new Android payments application – TEZ, Which is a UPI-based app that can be used for online transactions, as well as paying offline at stores.
The app allows users to do financial transactions like sending money, receiving payments directly into their bank accounts and paying bills. The users can link the app to their bank accounts.
The app, which is going to go head to head versus the popular apps like Paytm and BHIM, may give Google a share of India’s growing e-payments market.
According to the company, all transactions on Tez are secured by ‘Tez Shield’ that detects fraud, prevents hacking, and verifies identity. The company has partnered with HDFC Bank, ICICI Bank, Axis Bank, and State Bank of India for the backend.
Features Of Tez Application:
- Transfer money directly to your bank account. Simply link your account to Tez over UPI and instantly transfer money from bank to bank.
- With Google’s multi-layered security and 24/7 protection by Tez Shield, the tech giant boasts of higher security.
- Using Tez’s Cash Mode, you can instantly send or receive payments to anyone nearby without sharing personal details like your phone or bank account number. The technology works like NFC and uses ultrasound rays to connect two phones through the phone’s microphone and speaker.
- We can also pay through a QR code, which a user will be able to scan and make the relevant payment.
- It offers language support for English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.
- You would be able to see all your contacts who are using Tez on the app, and request or pay money.
Earn Rewards By Referral:
- We can refer the app to friends and if they sign and make a payment using it, you and your friend each will get Rs 51 reward. You can refer the app to as many people as you want although the maximum reward is limited to the Rs 9000. The referral offer, according to Google, will be valid until April 1, 2018.
- With Tez Scratch Cards (TM) in the app, a user may win up to Rs 1,000 with each eligible transaction.
- The weekly transactions enroll a user in Tez’s Lucky Sundays contest where the user could win Rs 1 lakh every week. The transaction must not be less than Rs 50.
Google said that in the coming days it will be adding support for DTH payment to the Tez app. The company will also add support for debit and credit card to the Tez app, that will allow users to use the app to make payments using their credit card.