New Delhi: In tune with the Modi government’s encouragement for digital payments, Finance Minister Arun Jaitley on Monday launched Google’s mobile wallet and payments app 'Tez', specifically designed for India.
Tez is a one of a kind payments app that is Unified Payments Interface (UPI)-enabled and is targeted for Indian customers, unlike Android Wallet.
Speaking at the inauguration, Jaitley said Google had been able to eye the potential of ‘remonetisation’ after the note ban decision in November, 2016. He said people took to digital payments after demonetisation as a “compulsion” first and it has since then become a habit.
“Tez by Google and other ecosystems will make a major change in the digital payments landscape in India,” he said.
Tez, which translates to fast in Hindi, will be supported by Paytm and MobiKwik, apart from UPI. The inauguration ceremony described the app as “Made for India first, transact directly from bank account, makes payment simple, built around your ease and super secure”.
Watch how Tez works:
Make instant payments privately and securely with @TezByGoogle - whether it's to someone you know or someone new. #GoogleTez @LayfieldDiana pic.twitter.com/jCyDxwil10
— Google India (@GoogleIndia) September 18, 2017
