Mountain View based Tech-giant Google may be launching a localised Payments application Google Tez here in India next week. While it is not sure whether this is the app making its way, but Google has sent out media invites for an event on September 18.
Since Google was in talks with the NPCI (National Payments Corporation of India) regarding UPI integration, this may be the time we saw it in action. Reported by The Ken, the Tez app from Google will come with UPI integration along with Payment support for Paytm and MobiKwik wallets.
About Google Tez
— Venkat Ananth (@venkatananth) September 14, 2017
Google Tez is reported to be a localized mobile wallet solution from Google. It is said to be designed specifically for India as it is expected to be launched with UPI integration. Apart from UPI, Google Tez is expected to be capable of making Paytm and MobiKwik payments from within.
While there is no word about NFC on this application, Google Tez can be taken as an Indian version of Android Pay. While Tez means Quick in Hindi, the app’s name is indicating at a fast and seamless payment method.
Back in July, Google was in talks with the NPCI (National Payments Corporation of India) for integration of UPI. At that time, NPCI MD and CEO, AP Hota was quoted as saying,
“Quite likely Google would come first, because their testing is more or less complete… We have written to RBI seeking approval just two or three days back.”
How will Google Tez be useful?
While it is still not confirmed whether the September 18 event is being held for Google Tez, we can safely tell the uses of this service. The simplest benefit of Tez app will be that we will have a mobile wallet application that is capable of making bank payments via UPI and mobile wallet payments like Paytm and others.
As we already know, Google’s Android Pay service allows users to make payments using their phones as credit/debit cards. Sadly, Android Pay is not yet available in India so the Tez app can be an alternative for the same.