Google debuts UPI based payment app – Tez

Google, the search giant, has launched its UPI-based app that is expected to contend in the already competitive fintech space. The launch of Tez (translates to Fast in Hindi) comes nine months post the company’s CEO, Sundar Pichai hinted in a televised interview that he was looking at ways to adopt UPI.

Although late to join the bandwagon, Google holds a strong position in the tech industry and should mark its presence soon enough. It was reported last week that the company was in works to develop an app to aid in cashless transactions and these rumors have been put to rest today. Google is expected to officially launch the application in an event that will be held in New Delhi today (18/09/17), however, the app has already been unveiled ahead of it.

To make the app wide-spread, Google has partnered with several popular services such as PVR Cinemas, Domino’s Pizza, Jet Airways and DishTV. The company has suggested its users to look for Tez logo on their favourite services to check whether the app is supported. Apart from that, Tez will link directly to your bank account so you can transfer money to different people with just a tap. According to UPI guidelines, the transaction limit is Rs. 1,00,000 in a day across all UPI apps with a maximum of 20 transfers in a day, which will also be applicable for Tez.

As per the notes on Google’s information portal about its new app, the company says: “Send money home to your family, split a dinner bill with friends, or pay the neighborhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India.” Almost all major banks in India support UPI based payments including Axis Bank, HDFC Bank, ICICI, State Bank of India and many others. For its backend processing, Google has teamed up with HDFC Bank, ICICI, and State Bank of India.


On the security front, Google claims that the app is bulletproof and integrated with what the company calls “Tez Shield” which is expected to detect fraud, prevent hacking, and verify identity. For additional security, the company has also integrated an additional PIN layout to protect any unauthorised usage. Also on the iOS app the PIN can be substituted for Touch ID. In addition to that, Google Tez features a unique “Cash mode,” which basically transmits an audio file to recognize the person nearby to you who you wish to transact with, and then on successful recognition on the other device, lets you complete your transaction.

It is also worth mentioning that unlike PayTM and Freecharge, Tez is not a mobile “wallet” where you need to top its wallet up first. Instead, it’s an app that links your phone with your bank accounts to let you use your smartphone as a way to transact through those accounts. With big contenders such as Whatsapp and even Netflix looking to make its mark in this sector, it’s going to be exciting to watch this space grow. With more competition in the market, the average consumer can not only expect more options to transact from, but also better offers to select from.