Google Tez app has joined the ranks of digital payments apps in India with the launch on Monday. With already established players like PayTM, PhonePe, and the official app BHIM, the Google Tez app has its work cut out. This isn’t a digital wallet service like PayTM, but uses your bank account to send and receive money. With so many already available in the market, should you shift to the Google Tez app? Here’s a breakdown of the Google Tez app, from what it can to do, to how to use it, and our take on its capabilities.
- Given the fact that Tez app is built on top of UPI, it supports 55 banks that are already using this interface. Almost all the popular banks, including HDFC, ICICI and SBI are part of the list. In other words, if you have a bank account with one of these banks, you can connect it to the Tez app.
- The Google Tez app is available on Android as well as iOS, and supports various local languages, including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu. To register, it asks for your mobile number associated with your bank accounts to set up the app. You are given a list of banks to select from.
- If UPI is already enabled on that bank account you will be prompted to enter the UPI PIN. The account will be set up after this step, and is ready to use.
- One of the key feature of the Tez app is Cash Mode. Google says that this mode has been put into the app to imitate the actual cashtransactions that we all do because Indians love cash transactions. And that is true. We pay vegetable vendors and chaiwallahs — Google mentions chaiwallahs.
- Google says that the Tez app comes with the Tez Shield, a background security protection that ensures using the app is safeand transactions happen securely. Tez app can be secured with the phone’s PIN or with Google PIN.
- Currently the Tez app can be used to purchase products from PVR Cinemas and redBus. In the coming weeks, DishTV, Jet Airways and Domino’s will be supported. Google says that it is also working with e-commerce platforms like Shopify and payment aggregators like Billdesk and PayU for the Tez app.