Digital Payments

Google introduces its brand new payment app ‘Tez’

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TezStepping into the segment of digital payments, internet search engine giant Google has launched its brand new payment app ‘Tez’.

The much-awaited app was launched by the Union Finance Minister Arun Jaitley.

“Tez by Google (is) perhaps the simplest form of monetary transactions,” said Arun Jaitley, while speaking about the app at its launch.

Explaining about the need to need to ensure digital transactions, Jaitley said, ” Tez by Google and other ecosystems will make a major change in the digital payments landscape in India”.payment app Tez

According to Google, Tez is launched as a simple and secure medium to ensure digital payments, with a motive of working with everyone in India. Users can now download the app from Google Play and App Store.

The app is supported by the Unified Payments Interface (UPI) and it allows its users to make small or big payments from their banks absolutely without any additional charge.

As of now, it is available in seven Indian languages namely Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu.

The app is in partnership with Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India (SBI), to ensure the processing of payments across over 50 UPI enabled banks.

“We are deeply committed to bringing the best of Google’s technologies to Indian users, and Tez takes that to the next level. Tez was built for India first — and starts us on a journey to make digital payments simpler and more accessible to everyone. We want to combine the best of Google with the best of our partners — Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India — to supercharge digital payments and commerce for as many Indians as possible and help them get the most from every rupee,” said Caesar Sengupta, Vice President of the Next Billion Users team at Google.

“With Tez, we are not just building an app but working towards a digital ecosystem that brings together millions of smartphone users, small merchants, large businesses, and financial institutions — all built on the UPI infrastructure that NPCI and the Indian government have taken great initiative in developing. Today is the start of a new journey for us. We look forward to bringing more features and innovations to meet people’s needs, and providing businesses with more ways to interact with their customers,” said Diana Layfield, Vice President, Head of Finance & Commerce Products, Next Billion Users.

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