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'Tez' Digital Payment App was launched by Google on 18th September in India. Currently, about five million users have downloaded the app from Google play store.
Google observed that around 1.8 crore gross merchandise volume (GMV) transactions has been done along with four lakh users downloaded the app, within just 24 hours of being launched.
Google's digital payment app, Tez is developed on Unified Payment Interface (UPI) and based on the Indian Government rules. It allows users, free of charge, to do small or big payments or transactions directly from their bank accounts.
As per National Corporation of India (NPCI), the number of transactions on UPI has crossed three crores in the month of September. The transactions have increased from 1.66 crores in August as compared to 3.07 crores in September with a growth of nearly 85.32 percent.
A total of 3.07 crores number of transactions happened on UPI platform in month of September, out of them BHIM's share was 76.03 lakh with a market share of about 24.7 percent.
The app works in partnership with four banks namely – HDFC Bank, Axis Bank, HDFC Bank and State Bank of India to provide the facilities of payments across about 50 UPI- based banks. The Google Tez App supports several languages including English, Hindi, Gujarati, Kannada, Marathi, Bengali, Telugu and Tamil.
Android and iOS users can download the app from Google Play Store for free. If you are a customer or dealing with a small business you can do the transaction free of charge. Likewise, Paytm and Mobikwik, Google App Tez does not works like a wallet. The highlighting feature of Tez App is that money gets transfered directly in users bank account instead of Tez account.
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