Google has launched a new mobile payments and commerce app in India called Tez.
Tez is designed to be a simple and secure way for people to pay for big and small things, both online and offline.
It has been built using India’s Unified Payments Interface (UPI) Standard.
Tez is primarily designed to allow users to pay for things in the real world electronically, instead of carrying cash around with them at all times.
Users can also pay directly from their bank account, meaning their money is secure with their bank and they can continue to earn interest.
Some of the app’s features include:
- Direct, bank-to-bank payments: Tez uses UPI for instant and secure payments, directly to and from bank accounts.
- “Cash Mode” for nearby transactions: Pay nearby without sharing your private details like bank account or phone number.
- Tez for Business: Tez for Business is a program for large and small enterprises to connect with consumers inside the Tez app to make payments, share redeemable offers, products and updates.
- Tez Shield: The app is backed by Google’s expertise in data security, and it works 24/7 to help detect fraud, prevent hacking, and to verify and protect the identity of its users.
It has also been reported that Tez is looking to work with more partners to add more ways to pay on the app including credit cards and mobile wallets.