Tez is a UPI (Universal Payment Interface) based app by Google, which is pretty similar to BHIM by Indian Government. BHIM will have all banks on board but Google collaborated with HDFC bank to enable UPI services in India. I think Google is planning something big, like enabling Google Tez on all the Google products, till now Google is accepting only credit card payment or a user should buy a Google Play gift card to pay/use the Google’s paid services.
So, Let us see all the features Google included in its new app.
Multiple Bank Accounts
You can simply link multiple bank accounts associated with your mobile number and PAN card. The best part is you can simply spend or receive the money directly from/to bank account.
Simplified money transfer
Gone are those days when customers are supposed to add the beneficiary and wait till it gets approved to transfer the money. Now you can simply transfer using phone number, UPI ID, or bank account details
Google is offering an additional security with Google PIN and 24/7 customer support against anything that went wrong.
With Cash mode, you can simply transfer the money to a nearby Tez user with AQR(Audio generated QR code). Without knowing any of the personal details like mobile number or bank account details.