Google's much awaited UPI enabled mobile payments app is finally debuting in India and will be officially launched by the Finance Minister Arun Jaitley in the capital today. To make Tez count, Google made sure it worked with India's national Unified Payments Interface (UPI), a payment system backed by the government and 19 major banks in the country. Presently the app provides support for many Indian languages like Gujarati, Bengali, Marathi, Kannada, Telugu, Tamil etc. The app, Tez also translates to fast in Hindi.
Users can send money to other bank accounts using the app.
In a day, users can perform up to 20 transfers on Google Tez with a maximum transaction limit of Rs. 1,00,000. You can refer the app to as many people as you want although the maximum reward is limited to the Rs 9000. If you can't see it on the Play Store and would like to have a look of your own for whatever reason, you can grab it from APK Mirror. The Google Tez app is the first digital payment app that has been launched by the company in India.
In Tez, money will be directly deducted from bank accounts, hence there will not be any need to store the money.
If your primary number is the one linked to your bank account, then you need to make sure the smartphone has that SIM inserted in it. UPI allows for easy transfer for payments within bank accounts. It comes with enhanced Google's multi layered security and 24/7 protection feature. Once you have done that, you will be able to send as well as receive money from anyone using the Tez or other UPI supported apps out there. Above that, banks might start charging fees.
While Google is working with merchants like redBus and Domino's to allow for payments of products and services, it has also unveiled an API that will allow all merchants to support Tez down the road. The verification can be done easily by just sending a text message using their registered phone number via the interface of the app. Google has partnered with Axis, HDFC, ICICI and SBI for backend processing. Online businesses can integrate the "Payment Request API" so that they can securely accept UPI payments using "Tez" on their mobile websites. If you've already set up your account, the payment process is simple, and similar to Paytm transactions.