Today Google announced Tez, a mobile app for digital payments and commerce in India.
Built on the Indian government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts.
The app supports English and seven Indian languages (Hindi, Bengali, Gujrati, Kannada, Marathi, Tamil, and Telugu).
For this app, Google has partnered with four Banks — Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India (SBI) to facilitate the processing of payments across over 50 UPI enabled banks.
Tez is backed by multiple security levels, including dedicated security systems offered by Indian banks, the NPCI, and the Tez Shield — Google’s suite of security features, including a machine-learning-based fraud detection engine, device level protection, including a Google PIN, and no sharing of phone numbers or bank account numbers via Cash Mode. Customer service is available 24/7, Google said.
With each eligible transaction, Tez users have the opportunity to win Tez Scratch Cards worth up to Rs. 1,000 and get enrolled for the weekly Lucky Sundays draw of Rs. 1 lakh.
At the launch event, Google also announced a program called “Tez for Business,” which offers businesses new ways to unlock the potential of digital payments and engage their customers.
Tez for Business merchants get their own business channel on the Tez app where they can engage directly with their customers to share offers, send payment reminders, link to their mobile website or customer support, and more. This gives an app-like payment experience without needing to download an app.
Online businesses can integrate the Payment Request API so they can securely accept UPI payments using Tez.