Everything you need to know about Tez – the payment app by Google for India
Now Google too has joined India’s mobile payment club with its own mobile payment app, Tez. Don’t confuse the Tez with a Paytm-like app which is actually a wallet service. Tez is more like UPI based PhonePe app or government’s BHIM app which use your bank accounts to send and receive money. One of the best features of Tez is “Cash Mode” that lets you send money without any need of recipient’s number or QR code. It uses an audio matching system, instead. Google has launched this app on 18 September and made it available on the Play Store and the App Store.
The payment app Tez is available on both the leading stores, Google Play and App Store and supports several Indian languages like Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu. The app can be registered and set up with the mobile number registered with your bank. Users can choose from a given list of banks.
Upon entering the phone number, the app sends an SMS from the number to the chosen bank to get UPI access. A fresh UPI ID is created and linked to the Google account. Because it’s a Google’s App, it chooses the Google Account by default that your phone uses. But, if you want to choose different ID, you can login into that account; though, it will only use a Google Account only. iPhone users are promoted to sign into their Google account manually.
The app will use a new UPI ID or VPA which means if you have been already using a UPI ID or VPA, you will not be able to use it.
If UPI is already enabled on that bank account, you will be prompted to enter the UPI PIN. The account will be set up after this step. Now the app is ready for the use.
The app can be secured with fingerprint scanner on devices having the fingerprint feature. It can also be secured using a PIN, but it’s strongly recommended that you do not set the same PIN that you use to open the screen lock of your device.
It’s quite easy to send money using the app. Tap in the payment tab where all the contacts in your phone-book are listed. Also, you can enter account number and IFSC details, UPI ID, Scan QR code or the phone number of Tez user.
The app also lets you receive payments from businesses.
Tez has introduced a new feature called Cash Mode which allows users to transfer money without any need of recipient’s phone number. The app does this by transmitting audio with the use of Google QR Technology to identify the recipient phone near you.
Google also offers an incentive program by providing Rs. 51 for referring new users to the app. Also, a new user coming to the app via referral does also receive the same amount of money which is added to their accounts. Apart this, when users transfer Rs. 50 and above with this app, a reward as Google Tez Scratch Cards, provided to both senders and recipients. These scratch cards give users with chance to win up to Rs. 1000, for 10 rewards per week and up to total sum of Rs. 9000 per financial year.