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Tuesday, 12 November 2019

Google Launches TEZ a debutant in mobile payment in India

Google launches TEZ a mobile payment in India 17-09-2017, after being in news for some time and gathering spotlight on social media. The rumors have come true. The company Google has closely worked with India for "Digital India" campaign and its one the efforts to connect the people of India.
Allow user link up their phone to their bank accounts to pay for goods securely in physical stores and online and person to person money transfer.TEZ is not like any other apps in India like paytm, mobiwik available on play store. TEZ deducts amount from the linked up bank accounts unlike Paytm mobile wallet. This makes the transaction safe and secure. TEZ is been launched in iOS and android phones and allowing Google to get linked with major banks in country by way of UPI (Unified payment interface) backed by the government in its push to a integrated market. SBI, Axis, ICICI Bank, HDFC and other banks that support UPI, users can link to these suitable accounts of theirs. Many food chains and transport services can be paid by this application. Serving a bigger audience this comes in English, Hindi, Marathi, Bengali, Tamil, Telugu, Kannada & Gujarati. The limit is upto 1lac in one day across all UPI & 20 transfers daily. India, the second-most populated country in Asia after China, is a ripe market for mobile payment services, with a rapidly expanding middle class with more disposable income and a wider population that is very tech-focused. Digital payments are expected to reach a volume of $500 billion annually by 2020, according to a report from BCG and Google . Since the day of release it has crossed over 2k users and rating of 3.5 on android play store.
A great initiative by Google and The Finance Minister of India
Reference

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