Google has just launched a recent mobile payments system for its Indian customers, and it’s called Tez. It aims to function with India’s growing UPI standard to help millions of clients overnight.
There have been rumors that Google is developing a customized mobile payment solution for the Indian market demands, which significantly includes low-end Android phones without NFC. Tez utilizes the UPI standard which is common to over 50 banks in the nation.
Tez is secure
Tez, also compatible with iOS on the first day, associates one or more bank details to a single user phone, making the user send out payments directly to other individuals or pay in-store. Tez has built-in-two-factor authentication, as such; users don’t have to worry about scams.
While Google is collaborating with merchants like Domino and rebus to enable payments for services and products, it has also disclosed an API that will cause other merchants to support Tez with time. Tez has also included a section where users stand a chance of winning money when they make use of the service.
Tez allows many dominant Indian languages including Telugu, Marathi, Gujarati, Bengali, English, Hindi, and Kannada. However, it’s not clear whether users have to pay to utilize this service or whether merchants will charge, as in the case of hosting credit card. Whatever be the case, Google has been bent on creating consumer-friendly services, so it may think of subsidizing some of the initial costs for the merchants.