Google has officially launched its mobile payments app Tez. This payments app uses UPI and works with all major banks.
You can use this app to send and receive money directly on your bank account. You can also use it to pay on several shops and malls. You can also use this app for recurring bills such as DTH and several recharges.
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For making this app safe, Google has added a multi-layered security and Tez Shield. It is worth to note that Tez is not a mobile wallet but UPI based app. So, your payments are directly from bank account to bank account. You can also see it as an alternate to BHIM app.
There is also a Tez’s Cash Mode that allows you to send or receive money to anyone nearby without sharing personal details like your phone number or bank account.
You can only transfer up to Rs. 1,00,000 in a day across all UPI apps and it also limits 20 transfers in one day.
The company has launched this app for normal consumers and business as well. Businesses can integrate their own Business channels and get payments directly from customers. It lets you accept payments up to Rs. 50000 per month with UPI. Google will also not charge a single penny from businesses.
It is a standalone app and is available on Android and iOS. It is powered by UPI and aims to offer safe and fast payments mode to Indian consumers. The payment app also supports various local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.