Google has just recently launched a special mobile application, called as “Tez”, for the purpose of allowing its widely growing numbers of customers in India, to make payments and other transactions easily. This application has been specially designed for the solution to unique demands in the market of India, to approach the millions of its customers overnight with the UPI standard. The application is using the UPI standard, which has been already adopted by more than 50 banks throughout India only.
This special initiative service, named “Tez app” is expected to become successful as the first step towards the digital payments transactions heading up in Asia. Tez app allows its users to link the app to their bank accounts, and make the official as well as personal transactions and payments just using their phones only.
The application better supports the government UPI based standard, i.e. Unified Payments Interface, which enables the service compatible with all the major banks. Currently, the Tez app is limited only for India, but ii is expected to be spread worldwide.
Arun Jaitley, the India’s Honorable Finance Minister, revealed this Google’s Tez mobile app. The application is able to work on the android phones as well as the desktop. The name of the app, i.e. ‘Tez’ means in Hindi language as ‘highest speed’ in India. So, the as the name suggests, the Google’s Tez app aims the Fastest and secure transactions. Though, it will be the tough competition for Google Tez with the number of payment services already available in the market.