Google introduces new payment system called Tez for India
Google has introduced another payment app called Tez. And before people start crying foul comparing this to Google’s numerous chat apps, this isn’t quite the same. This app is meant strictly for the Indian market.
Tez is built on India’s Unified Payment Interface standard and aims to replace cash in a country where Google says smartphones aren’t widely used for payments. It has features like direct bank-to-bank transfers between friends, “cash mode” that won’t share your details when paying strangers, and fraud protections.
A few cool details is that businesses can integrate their services into the Tez app for easy payments, and the app supports paying strangers by emitting a sound from the phone and the another phone hearing it to initiate a payment.
Though we won’t see Tez in the US, it’s still looking to be a pretty cool service. Hopefully some of the knowledge Google gains from this can be used to expand Google Wallet and Android Pay.