All you want to know : Tez – Payment app by Google

Google has introduced a new mobile payment app (exclusively to India for now) called Tez

It’s hindi translation is Fast, means you can transfer money faster, let’s see some of features that makes Tez app faster

Download and Installation

Available for android and ios devices

How it works

Tez works based on UPI (Unified payments interface), so we can add banks with UPI facility (not to worry, more than 50 banks has UPI)

Once installed Tez app, need to verify with OTP and then add your bank account (should be of UPI enabled bank) and you are good to go…

https://www.youtube.com/watch?time_continue=105&v=LN2F0ae–WE

Features 

• Transfer money from one bank to other bank over UPI.
• No wallet concept – no need to add money to any wallet, direct transfer from bank to bank either by phone / account number, QR or UPI ID.
• Tez cash mode – Even you can send or receive money from your near by Tez app user (just like send and receive feature of document sharing app ShareIt or xender)

Cash mode enables to pay money to any vendor (small or large) with out asking their bank details, just put your phone (with Tez app open) near to their phone (with Tez app open) and transfer money directly to their bank.

Daily limit – For cash transfers, ₹1,00,000 is set as the limit in one day across all UPI apps. With Tez app, users can do 20 transfers in a single day.

• Small or big merchants with current accounts can receive money with Tez app (up to 50,000/month, there is no fees to transfer money back to their bank account)
• Online payments with Tez – pay on apps and websites where UPI is accepted. When you checkout, look for the Tez logo or use your Tez UPI ID.

Additional feature

• Google’s multi layered security and 24/7 protection by Tez Shield make users to use confidently.
• Supports Indian languages other than English (Hindi, Bengali, Kannada, Tamil, Telegu, Marathi, and Gujarati)

Rewards and offers

Tez offers scratch cards to its users on transactions of worth ₹50 or more, which will allow them to win up to ₹1,000 with each transaction and be eligible to win ₹1 lakh every week with ‘Lucky Sundays’ offer.

Do a first transaction (Send money either by using cash mode or by UPI or scan QR code) and get cash back ₹51 instantly to your linked bank account…