Google's digital payment app 'Tez' launched: Here's how it works

Tech giant Google on Monday joined the bandwagon of Unified Payment Interface (UPI) -based payment apps launching its "Tez" app.

Tez, which means fast in Hindi, is a standalone payments app that can be downloaded on Android and iOS devices.

It is based on UPI -- a payments protocol built by government-backed National Payment Corporation of India (NPCI).

Apart from English and Hindi, "Tez" app supports various Indian languages such as Bengali, Gujarati, Marathi, Kannada, Tamil and Telugu.

The user interface is fairly simple and the user is asked to sign into the application using the mobile number that is registered with the bank account.

The user then receives an OTP via SMS and the registration is completed after an email id is provided.

The app lets the user pay bills, send money and receive payments directly into their bank accounts (after the app is linked to their bank account to verify ownership).

There is also an option to send a text message from their registered phone number through Google "Tez" app.
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Budget 2017: IT, telecom players expect more for cyber security, broadband

Latest News - With the government's push for digitisation across the board, the information & technology and telecom players are expecting a Union Budget that will try to strengthen cyber security and make broadband available to all that will in turn catalyse digital payments.

"As India digitalises rapidly, holistic approach to cyber security is a pre-requisite to foster and sustain trust of all the stakeholders -- consumers, businesses as well as government," said Sanjay Rohatgi, Senior Vice President, Asia Pacific and Japan, Symantec.

"The government should consider setting aside at least eight per cent of its overall IT budget specifically for cyber security starting with the upcoming budget," Rohatgi said.

After the demonetisation in November 2016, the Indian government is trying hard to (Read More)

Digital war: Airtel, Voda, Idea woo merchants to use payments apps

Latest News:Amid revenue losses on account of the government's demonetisation move, and competitive pressures intensified by extension of free services by Reliance Jio, older telecocompanies seem to have been forced to provide incentives to get merchants to opt for digital payment applications.

According to sectoral data, around 12 million more Indians have started using digital wallets. The reach of mobile payments rose six per cent in the week following the demonetisation announcement, while usage frequency surged 15 per cent, says Rajan Mathews, director-general at the Cellular Operators Association of India (COAI).

Here’s what is in store:

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