Google payment app Tez in India
Google payment app Tez: Google entered into the rapidly developing mobile payment sector in India on Monday with its mobile wallet app, Google Tez.
What does Tez mean?
Almost every India is aware of the word Tez, Tez, meaning ‘fast’ in Hindi. It is a payment application from Google that had been developed for India. It is powered by UPI(Unified Payment Interface). This application is available for both iOS and Android.
How does it work?
Tez works with vast majority smartphone and with all major banks, including our partners: Axis, HDFC Bank, ICICI and State Bank of India. This Google developed wallets permits the user to transfer money without the recipient’s bank account details. The IFSC code and UPI ID of the recipient are used as a proxy for the account number.
How can you transfer money?
After installation of the app, users have to sync their wallets with their Google accounts and the mobile linked to it. Integration of one’s bank account with the wallet is done via SMS(The mobile number should be same as the number associated with the account). Once the user’s bank account is linked, follow any one of the following methods to make payment.
1. The Money can be transferred using the recipient’s UPI ID.
2. By entering the account number of the recipient and the related IFSC code.
3. Using the camera to scan a QR code, or entering the phone number of the recipient.
4. By using Cash Mode You can receive and pay money for nearby devices.
Is GooGle Tez Secure?
To Access the Tez wallet, the app drawer is protected by Google PIN and by security feature provided by the phone such as passcodes, fingerprints, and pattern locks. The app is provided with Tez shield that works 24/7 to help detect fraud, prevent hacking, and verify your identity.