Technology and Internet Giant ‘Google’ has stepped in mobile payments arena with the introduction of ‘Tez app’. This is a mobile payment app for India that enables users to make simple, fast, cashless and hassle-free transactions without the need to remember long bank account numbers.
As far as the security of this digital or mobile wallet ‘Tez’ is concerned, users need not give it any second thought as Google has already ensured for its 100% security and claimed it free from any data breaches.
On Monday, i.e. 18th September 2017, Google announced the launch of Tez app that very well aligns with the concept of ‘Digital India’
“Payments made straight from your bank account, big or small. Presenting #GoogleTez, money made simple. “
What’s the Use of Google Tez App?
Tez app is an initiative by Google that helps Indians to make payments to friends, or shopkeepers or business partners directly through their bank account. No more searching for exact change to pay your friend for split bill of dinner or paying that fruit vendor, bus conductor or even a tea seller.
Tez app makes it simple for users to make payments and carry out financial transactions, no matter how big or small, through this mobile
“The best part about this payment app or mobile wallet is that users need not worry about recharging it. Money used for making payments is directly deducted from your registered bank account. “
Cash Mode of Tez App: Perfect Replacement of Hard Cash
Mobile wallets like ‘Paytm’ and Government’s ‘BHIM’ app have been in existence since long, but none of them have been able to provide perfect replacement of cash till now. Google’s Tez truly understand how convenient it is for Indians to use cash to make payments.
Without providing much personal details such as mobile number or even account number, cash was the only medium to make payments. Not now, Tez enables users to pay other Tez users without sharing any personal information through ‘Cash Mode’.
“Make instant mobile payments to tea vendor, vegetable seller or any unknown person without sharing any personal details such as account number or even phone number.”
This mobile wallet works in the following manner to enable mobile payment:
- Bringing two mobile phones with Tez application near each other
- Select ‘pay’ or ‘request’, whichever is suitable
- Enter UPI PIN
Upon following these steps, user can instantly make mobile payment from one bank account to another.
Store Transactions as Chat Conversation
Tez is built keeping in mind user’s convenience and easy access to making payments. While a user has to send money to store contacts, Tez helps in making direct payments without any need of adding beneficiary for them. These transactions are stored as chats and conversations for the user to keep record of the same.
“No need to add beneficiary. Pay directly to your contacts by transferring money to their bank accounts.”
Business Channel in the Tez App
Businesses can unlock new potential through dedicated channel in Tez app. This app accounts for improvised interaction of business with customers and accepting UPI payments. Business channels in Tez app allow merchants to send reminders for recurring payments and enable users to interact and transact easily with them without the need to install multiple apps.
Tez Shield: Protection of Mobile Wallet or Mobile Payment System
Tez being a mobile payment app is strongly protected by Google with Tez Shield that works using security and machine learning algorithms. Google has taken all possible security measures to detect frauds and prevent hacking in order to ensure safety, security and privacy of Tez users.
“All the payments made through Tez app are highly secured and protected with Tez Shield.”
Tez account is protected with stringent passcode or fingerprint and Google PIN code. In case of any irregularities or doubtful activities, users can contact the customer support department who are ready to help round the clock.
Points to Note about Tez App for Mobile Payments
This app is available on both Android as well iOS smartphones for Indian users. It works with 55 banks on UPI and the best thing about this app is that you do not need to keep any balance in mobile wallet as such. All the payments are made directly through bank account.
Mobile wallets or mobile payment systems are the need of the hour. While Paytm app was a savior for Indian during demonetization, Tez app plans to reinstate the trust of users in mobile payment while making the process more smooth and secured.