Google Tez

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 Security

Google is offering an additional security with Google PIN and 24/7 customer support against anything that went wrong.

Cash mode

 

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.

Referral programme

Google is offering a referral programme to attract customers. When you refer your friends and when they make their first transaction you will receive RS. 51 scratch card. and when you make transactions of value RS. 50 or above in a week both sender and the recipient will get a scratch card which has a prize money up to Rs.1000

Many upcoming features

Like I told before Google may integrate Tez( which is only in India) with Google wallet or may offer inter-country transactions like Paypal.

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