Tez is the new mobile payments solution from Google. The Tez app has a simple design and has been made to make payments and funds transfer easily through it. The Google Tez app is available for both iOS and Android devices.
Google Tez relies on Unified Payments Interface (UPI) payment system developed by the Indian government that makes it convenient to carry out money transfer on a smartphone between two bank account holders. Hence, Tez can be used with all the major banks that support UPI in India. Apart from English, Tez supports Indian languages such as Hindi, Marathi, Gujarati, Bengali, Kannada, Tamil and Telegu.
One should be aware of the fact that It is not a mobile wallet like PayTM where users can store money on the app. Google Tez allows users to make transactions through the phone by deducting payments from the linked bank account.
Tez can be used for making online payments on any site that supports UPI payments. Currently, websites of Red Bus, PVR Cinema, Domino’s Pizza, Dish TV and Jet Airways support payments through Google Tez. Google is providing a cash reward of Rs. 51 to the sender and recipient on making first transaction.
How to Use Google Tez
After launching the app, users are required to enter the mobile number that is linked with their bank account. After registering, users need to select a Google account. An OTP (One Time Password) will be sent to the registered number. The registration process will complete after entering the OTP.
The next step is to secure Google Tez app with Google PIN and fingerprint scanning. Each time the app is opened, users will have to either enter PIN or scan their fingerprint in order to use it.. Next step requires users to add a UPI-supported bank account to the app. After entering the UPI code, users can start transferring money.
A feature called Cash Mode allows users to instantly transfer money to a nearby Tez user without sharing any sensitive information such as bank account or contact number. Funds can be also transfer using phone number, QR account and bank account number. The history of the transactions can be viewed through “All Transactions” tab. It also features Tez for Business for online sellers.
In a day, users can perform up to 20 transfers on Google Tez with a maximum transaction limit of Rs. 1,00,000. Google Tez moniker has been trademarked for countries like Indonesia and Philippines which indicates that the service would be available in Asian markets soon.