Google’s much awaited UPI enabled mobile payments app is finally debuting in India and will be officially launched by the Finance Minister Arun Jaitley in the capital today. The news was confirmed by the finance ministry via tweet. Tez will enable Indian users link up their phones to their bank accounts to pay for goods securely in physical stores and online as well as allow person-to-person money transfers.
On the app’s website Google states, “Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India.”
Google Tez: What’s Lies In Store With The New Digital Payment App
Unlike popular Paytm, Tez is not a mobile wallet where one can store money and top it when needed. Instead it’s more like Apple’s Wallet which links up your phone with your bank accounts to let you use your phone as a way to channel payments from those accounts. Google has tied up with banks such as Axis, HDFC Bank, ICICI and State Bank of India and others that support UPI. Meanwhile its list of online payment partners include Dominos, RedBus, PVR Cinemas, and Jet Airways among others. Also, besides English, the app supports languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu.