TEZ- A Payments app by Google

TEZ - All you need to know about it

Sept 20, 2017

Taking a lead from all its competing search engines ,Google has ventured into yet another domain and this time its the payment app TEZ. Its a new UPI powered payments app for both IOS as well Android which is now available on play store.

Feature:

• Comparing with other payments app
• TEZ unlike other payments app doesn't  require money to loaded into the wallet in order to use it. It allows a person to make its payment directly from its bank account through Unified Payment Interface.

• Security
  • The app is protected by TEZ shield which prevents financial fraud, identity theft  which is important for any digital transactions.
  • It provides 2 options in order to make your transactions safe- Screen Lock or a Google Pin

           

• Rewards and Offers
  • Payment using TEZ app also invites rewards in form of cash backs in order to attract customer to make more transactions.Exciting feature is that these cash backs directly goes to customer bank account since there is no wallet options in TEZ

           

  

• Mode of payment
• Through QR code
• Through Bank Account
• Through cash mode - In this mode the app allows the user to pay the exact cash amount to the nearby user to whom he has to pay. Google's audio QR technology helps find the nearby person and enables payment one next to each other. it doesn't requires sharing of phone number or bank account.

• TEZ for Business
  • It allows small and large business to connect to the customers of the TEZ app by promoting through offers,using TEZ app to make payments. Benefit for customer is that they don't need to install every single app

India post demonetization has seen an increase in usage of digital payments apps which is simpler and faster.There is a great potential for such apps to create a digital transformation in the economy. It will be interesting to see how the competition among these digital payment app in terms of quality technology and great offer will help attract more Indians towards digital revolution.