It’s been three months since Google launched Tez; an Android-based mobile payment service in India. Tez, according to Google is hitting all the right chords and winning hearts in that country. According to Google per TNW, Tez payment will soon cross 12 million active users in India—and that is a significant achievement considering the fact that it was only launched in September. To make bill payment easier for everyone in that country, Google has announced some cool new features.
Now, the mobile payment service is set to add an option that will connect you with service providers in India. Once connected, you will be able to among others, pay your electricity bills, broadband bills, and many others. You will also be able to retrieve your billing history and pay off your outstanding bills with just a few taps.
As soon as you add a service and include the details you signed up with, Tez will automatically pull in your payment history, process your payments, and send you notifications of future bills as soon as they arrive.
This solves a lot of problem, especially when it comes to tracking your bills. As a matter of fact, it not only automates your payments, it speeds up the entire process. It cancels the stress of having to manually entering the exact amount you owe for previous bill.
Google is doing this in conjunction with more than 70 major service providers in India. Tez, according to Google, has already processed 140 million transactions since inception, and now account for 73 percent of UPI-based transactions in November.
The bills payment option will be added in an upcoming update in the coming weeks; but Google has promised to add more features to the mobile payment app in the coming year.
Tez app is translated to mean “fast” in Hindi, and comes with a digital wallet that will enable users in India to store currency. Tez uses UPI (Unified Payments Interface) and is designed to work with all major banks, including Axis, HDFC Bank, ICICI and State Bank of India. Since it uses UPI, the app will allow you to transfer money to other users at no cost. You will be able to enjoy a simplified checkout system while using Tez. Credit card support and third-party wallets have also been added to enable the new platform compete with popular wallets like Paytm and Mobikwik.
With Tez, you can pay directly from your bank account, and continue to earn interest while you do so. This does not only make your money safe, it also means you can continue to earn interest while doing so.
Per security, the Tez Shield works 24/7 to help detect fraud, prevent hacking, and verify your identity. Each transaction is secured with your UPI PIN and the app is secured with a Google PIN or your screen lock method such as fingerprint.
Tez is integrated into other top apps in India to allow for easier payments. Much like Android Pay owned by Google; just that this one is created and designed specifically for the Indian market.