New Delhi, September 18: Global giant Google has launched a mobile payment application Tez, which will enable users to transact money digitally. The mobile application will be linked to bank accounts and it enables users to pay in a secure way–both physically and online.
“Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India,” Google said.
The application will be launched on iOS and Android platform in the country. The application will use Unified Payments Interface and will be linked to bank accounts directly. (Also read: How to Download E-Payment Application Google Tez)
Tez will not be an e-wallet like PayTM. In PayTM, money has to stored in the e-wallet. In Tez, money will be directly deducted from bank accounts, hence there will not be any need to store the money. Reports say that Axis, HDFC, ICICI, SBI and other banks that use UPI, will be supported by the application.