Tag: Google payments india

Ann Santiago
September 19, 2017

Incidentally, it is not Android Pay, a solution that the company offers on Android phones in many countries, but a customized-for-India-app called Tez-which means "fast' in English, suggesting that speed with which you can make payments will be the key".

Google Tez is available on Android and iOS and it is a standalone payments app which is powered by UPI, a payments protocol launched by National Payment Corporation of India (NPCI). The banks on its panel are Axis, HDFC Bank, ICICI, and State Bank of India. Most importantly, BHIM allows you to block/spam users who are sending you collect requests from illicit sources.

Once the user reaches the interface, they will be prompted to enter their bank account number and verify their ownership of the account.

Making or Receiving payments was never easy as it will become now. Users don't need to do anything, just make transactions and the winnings will go straight to your bank account- that is, if you win!

The company said that it has partnered with popular services including, PVR Cinemas, Bus ticketing service RedBus, Domino's Pizza, Jet Airways and DishTV. However, Tez is a payments app, where you link your bank account with the app and pay directly from the account.

"The Google team was extremely keen because they saw a great potential, both in the economy and the businesses in India". Tez uses the Indian government's standard interface, the UPI, which will enable compatibility with a large number of the payment services now offered in India.

In its website for Tez, Google says Tez can be used to "send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala". However, your bank might have its own set of restrictions, depending on various factors.

"A lot of people went in for digitization in terms of a mode of payment more out of compulsion, rather than finding it a more convenient method to transact", Finance Minister Arun Jaitley said Monday at Google's launch event. Subsequently, the UPI payment will have its second layer of authentication, to prevent unauthorized access. However, as a user, the basic security rules of online security still should be followed, including not sharing passwords and PINs with anyone.

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