Google Tez (the new mobile payments app) has been officially released for Indian people and is now available for download. Google Tez app, which means in English to ‘being speedy’, can be installed from the Google Play Store and Apple’s App Store. This is the tech giant’s 1st important attempt to enter the mobile payments segment in the nation.
Considering it is a UPI backed app, Google Tez is linked with most Indian banks, especially the ones which support UPI. UPI is recognized by the National Payments Corporation of India (NPCI) and regulated by the RBI. There is also a different “Tez for Business” app too. It is designed for corporations to receive payments from their customers/buyers. The new cellular app allows you to send and receive funds/money from buddies by linking up your bank accounts to Tez app. You can also purchase merchandise from online as well as offline retailers.
In comparison to other mobile wallets like Paytm, Google Tez app is a bit different. This is primarily because people will not have to first deposit money in an e-wallet on the Tez app. This simply means, your bank account will be your ‘wallet’, related to your bank debit cards. Google’s new app supports nearly all Indian banks, like SBI, Axis, ICICI, HDFC, PNB, BOI and more. So, below is a collection of 6 things you should know about the new Google Tez app.
Google Tez app Features:
1. Cash Mode: the biggest advantage of this Feature is Users can transfer money to anyone nearby without sharing personal details like your mobile number.
2. Offers: You will get a Tez Scratch Cards in the app every time when you made a transaction and can win up to Rs 1,000 with each Scratch Card. Additionally, your weekly Payments enlist you in Tez’s Lucky Sundays contest to win Rs 1 lakh per week. On the other hand, transactions amount must be equal or greater than 50 to avail this offer.
3. Security: many layers of security, starting from the bank to UPI, and then Google. Google Tez Guard helps in recognition of scams, prevents hacking, and verifies the identity of Users. Each payment is properly secure with UPI PIN and the app is secure with a Google PIN.
4. Direct bank account transactions:
Google Tez app works with your pre-existing bank account, which means your money always be in your bank account and no need to add it separately in wallets like Paytm. The app works with almost all Indian banks.
5. Tez app works with almost all major Indian banks. To set up an account and to use Tez, you need to be in India, have an Indian bank account with Indian mobile number. Tez app supports multiple languages like English, Hindi, Kannada, Marathi, Bengali, Gujarati, Tamil.
6. You can use Google Tez app for day-to-day purchases, payments and also larger transfers. You can also pay or receive money from everyone who has the Google Tez App or any other UPI supported app.