Tech Giant Google officially unveiled its digital payment app Tez in India on Monday. Google Tez will let users directly link their phones to their bank accounts in order to make payments for goods securely in stores as well as online and will also allow person-to-person money transfers. Tez comes with a unique feature: Audio QR, which let you exchange money by using ultrasonic sounds to pair your device with another device. It lets you make secure payments without exchanging any personal information.
Google moved its first step to tap the country’s digital payments market by revealing the app Tez which is available on Android and iOS powered by UPI, which is a payment protocol created by NPCI, a Government-backed organisation.
All about Google Tez and How it Works:
The UPI-enabled digital payments app, Google Tez weighs around 7 MB. Tez supports various local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.
The most amazing feature is the Google Tez is the Google‘s QR technology in the “Cash-mode” option, which transmits “audio” to identify the person near you, and lets you do the transaction when you find the user. The launch partners of Google Tez are Bus ticketing services like RedBus, PVR Cinemas, Domino’s Pizza, DishTV and Jet Airways.
Tez has a very simple interface in which users just need to enter their bank account number and verify their ownership by just sending a text message from their registered phone number. Once verified, Google prompts the user to add a UPI PIN; after which users can make payments whenever needed. After the set-up, users can see all their friends who all are using Tez, and request and pay money.
Google also introduced “Tez Scratch Cards”, for every transaction or exchange of money made between you and your friends, you both receive a scratch card which may have a value of Re.1 to Rs.1000.
How much Secured is Google Tez:
Google claims to have secured all the transactions on Google Tez app by Tez Shield for detecting fraud, prevent hacking, and verification of identity. The crucial thing is the introduction of an additional PIN layout to protect any unauthorised usage while on the iOS, the app supports Touch ID and for the coming iPhone X, Google plans to introduce the face-ID feature.
With the help of Tez, Google plans to become the leader in India’s increasingly growing digital payments market. The biggest rival for Google could be WhatsApp, which also plans to introduce support for UPI payments in its instant messaging app later this year.