New Delhi : Google has introduced a new payment app “Tez” for India. Unified Payment Interface means that for making or receiving a payment, there is no requirement of another Tez app. And yes, this system of payment is completely free. Finance Minister Arun Jaitley officially welcomed the Tez App.
How does it work?
These app can be downloaded from Google’s Play Store. It can be used on both Android-based mobile handsets and the iPhone. Then you have to set a Google PIN or screen lock for security. After doing this, the app needs to be linked to your bank account.
If your mobile number is connected to the bank account then such accounts will be linked to the app. Then go to the options of the app, send money or buy online. One option is cash’s If you and your friend have downloaded Tez App, you can transfer money to each other without sharing any kind of information.
At present, 55 banks are connected to the UPI, account holders of all these banks can join Tez. To get the transaction done properly, it has joined hands with four banks, State Bank of India, ICICI Bank, HDFC Bank and Axis Bank. You will have the option to choose which of these banks would like to adopt the payment system.
Voice based QR code
A specialty of the app is sound based QR (Quick Response) code. At present, the QR code has to be scanned by the mobile camera, after which payment is possible. But voice based QR codes can be achieved in the new app. In this case, the mess of scans will be avoided and money transactions can be done easily.
To make the new app popular, Scratch Card and Lucky Sunday have been offered. Under the scratch card, a prize of up to Rs 1,000/- will be won. The winning amount will come to your bank account immediately. On the other hand, there will be a prize of Rs. 1 lakh under Lucky Sunday. And of course, for all of these you will not need to memorize or search the code. Money will come in the winner’s account automatically. Keep in mind that these two are a kind of cash back. Many mobile wallet or payment apps return the fixed amount after making a purchase.
Google claims that the transaction under the app is completely secure. In addition to the security arrangements of the bank and NPCI (National Payment Corporation of India), a number of level security arrangements have been provided in the app itself. This includes measures such as fraud detection arrangements, security in Google pins such as a PIN, and arrangement of mobile number or account number sharing account numbers through cash mode.
The new App is available in Hindi, English, Bengali, Marathi, Tamil, Telugu, Kannada and Gujarati.