In the information portal, the giant has wrote, "Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala".
Google's Tez app developed for UPI-based digital payments in India just went official today. Tez will enable Indian users link up their phones to their bank accounts to pay for goods securely in physical stores and online as well as allow person-to-person money transfers. The app supports a range of Indian languages such as Hindi, Bengali, Gujarati, and Kannada, among others.
After being rumoured for months, Google launched Tez, its UPI-based mobile payment app in India. However, all the bank accounts will have to have the same registered mobile number. Also, there is a different "Tez for Business" app too. There is a limit for money transfer which is Rs. 1,00,000 per day while the number of transfer in a day is 6.
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Get Tez Scratch Cards (TM) in the app and be eligible to win up to ₹1,000 with each eligible transaction.
Google's Chief Executive Officer Sundar Pichai had told NDTV in January that the company was looking at ways to adopt UPI, which is a government-backed digital payments service. Once again we'll have to see how this works when Google officially launches the app and where the cash angle fits into this.
With mobile wallet apps linked directly to a bank account, there arises a concern for security.
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Here you have to enter your basic account details of your bank which you want to link here. Unlike some other "mobile wallets", it draws money directly from your bank account, eliminating the need to refill the app. After the initial setup, you have to either use your existing screen lock or set up a new PIN for the Tez app. You will have to create a new UPI Pin, which will be required to carry out transactions.
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