Tez (software)

Tez (Google Pay)
Developer(s) Google
Initial release September 19, 2017 (2017-09-19)
Platform Android, iOS
License Proprietary
Website tez.google.com

Tez was a mobile payments service by Google, targeted at users in India.[1] It was rebranded to Google Pay on August 28, 2018.[2] It operates atop the Unified Payments Interface, developed by the National Payments Corporation of India.[3] It can be used where UPI payments are accepted. Tez works on the vast majority of India’s smartphones (with apps for both Android and iOS) with the Android app supporting English, Hindi, Telugu ,Bengali, Gujarati, Kannada, Marathi, and Tamil with more languages coming soon.[1] There are plans to release the app in other emerging countries including Vietnam, Indonesia, and Thailand.[4] "Tez" is the Hindi word for "Fast". Within 37 days after being launched, Tez got about 8.5 million installations. Over 30 million transactions were made on the app as of October 27, 2017.

Service

Acceptability

Tez is currently accepted by PVR Cinemas, redBus, McDonald's, ACT Broadband, State government Electricity boards and is expected to be joined by a number of other businesses like Dish TV, Jet Airways and Domino’s. Google is also working with existing advertisers and online e-commerce platforms like Shopify and payment aggregators like BillDesk and PayU. Google also plans to add even more ways to pay on Tez (e.g., credit cards and wallets). Select phones from manufacturer partners Lava, Nokia Mobile, and Panasonic will come in with Tez preinstalled.[1]

Device compatibility

The service is compatible with vast majority of the Android and iOS devices.

Technology

The application does not require users to share any personal information such as mobile numbers or usernames like other payment applications, instead uses Audio QR codes that rely on sound transmitted at a frequency inaudible to the human ear from the payee handset to the merchant handset. This technology does away with the need for NFC chips on the handsets and holds an additional advantage because a significant number of smartphones in India and other developing markets do not have NFC chips embedded.[1]

References

  1. 1 2 3 4 "Introducing Tez—a mobile payments and commerce app from Google, made for India first". Google Blog. 18 September 2017. Retrieved 18 September 2017.
  2. ↑ Caesar Sengupta GM (August 28, 2018). "Google Pay — the next step in the Tez journey". Google India Blog.
  3. ↑ "Introducing Tez, a mobile payments and commerce app from Google". Google India. 18 September 2017. Retrieved 18 September 2017.
  4. ↑ Ong, Thuy (September 18, 2017). "Google's new payment app for India uses sound to transfer money". The Verge.
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