Technology giant Google today joined the cart of UPI-based payment applications (Unified Payment Interface) launching its “Tez” application.
Tez, which means fast in Hindi, is a standalone payment application that can be downloaded on Android and iOS devices.
It is based on UPI – a payment protocol built by the government-backed National Corporation for Payments of India (NPCI).
Apart from English and Hindi, the “Tez” application supports several Indian languages like Bengali, Gujarati, Marathi, Kannada, Tamil and Telugu.
The user interface is quite simple and the user is asked to log in to the application using the mobile phone number that is registered in the bank account.
The user then receives an OTP via SMS and the registration is completed after an e-mail ID is provided.
The application allows the user to pay bills, send money and receive payments directly into their bank accounts (after the application is linked to their bank account to verify ownership).
There is also the option to send a text message from your registered phone number through Google’s “Tez” application.
The user is then prompted to add a UPI PIN and then be able to start making payments.
You can also see a list of your friends who are using the application and request and pay money.
To ensure user safety, “Tez” makes use of Google’s 4-digit security PIN or screen / pattern lock to open the application every time.
The “Cash Mode” mode of the application works like the NFC function and allows the user to send or receive payments to anyone nearby without sharing details such as their bank account number or mobile number.
The application uses QR analysis and allows the user to make or receive payments after finding the other user.
Google also announced “Tez for Business,” which offers companies new ways to unlock the potential of digital payments and hire their customers.
Tez for Business merchants get their own business channel in the application where they can engage directly with their customers to share offers, send payment reminders, link to their mobile website or customer support, among others.
Online companies can integrate the “Request Payment API” so they can safely accept UPI payments using ‘Tez’ on their mobile websites with just a few taps.