Tez Payment app is a UPI based digital payment service by Google. Tez app has been launched in India on 18 September.
Since demonetization in India, people started adopting to various digital payment systems. Many Apps like PayTM, FreeCharge and others grew many folds. After anticipating the future of digital payments in India, PM Narendra Modi himself introduced BHIM App for making digital payments.
Now Alphabet Inc, parent company of Google is all set to join the competition. Tez Payment App by Google is a UPI based digital payment system.
Arun Jaitley, Indian Union Finance Minister himself launched the Tez Payment App on Monday (18 September 2017).
How to download Tez Payment App
Tez Payment App will be available on Google Play for download. Here are the steps to find and download Tez.
- Go to Google Play. Or you can click here to download Tez Payment App directly.
- Search “TEZ”.
- Click On Install & wait till download completes.
- Once installation is complete, refer to the other part of this article to know how to use Tez payment app for making digital payments.
How to make payments using UPI based Tez App
Using Tez Payment App, people can transact using their smartphones. All you need is a smartphone & bank account.
Both of these are very important to pay using UPI based Tez app.
Now I will tell you step by step how you can pay using Tez Payment App.
- Download the Tez Payment app from Google Play.
- Register using your bank account number or your phone number.
- Set a VPA for yourself. VPA (Virtual Private Address) is a unique address which identifies a UPI user.
- Generate a 4-6 digit mpin which will be used to validate all the transactions.
- Once set up, you can send or receive payments using mobile number, VPA or using bank account number. Using phone number or VPA are very convinient as compared to Bank account where you need to enter bank details like IFSC etc..
UPI (Unified Payments Interface) – How It Works?
Unified Payments Interface or UPI is a way to pay using UPI apps. Goolge’s Tez being a UPI based payment app also works like other similar apps. Here is all you need to know about how UPI works.
The steps described below give a summarized, rather non technical insights towards functioning of Unified Payment Interface (UPI).
- The receiver of the payment makes a request for payment to the UPI through an application.
- The UPI requests the authentication data from the payer.
- The payer returns the data requested by the UPI.
- The UPI makes a payment request to the bank of the sender.
- The sender’s bank sends a payment response to the UPI.
- The UPI returns the response to the request for payment to the beneficiary’s bank.
- The beneficiary’s bank returns a payment response to the UPI and the UPI returns it to the recipient.
- The receiver returns a response to the application.
Why Tez Payment App?
Tez app is made for Indian users. After analyzing the growth of e payment methods in India, Google coudn’t stop itself from entering the market.
It is estimated that in India, e payments will hit the ever high rise by end of 2017. May be that’s why Google launched their own UPI payment app for India.
Google having, a high authority may catch may market very quick.
We all trust Google. From search engine to our email accounts, we prefer Google. Similarly, in case of Payments, people would obviously prefer Google’s payment app “Tez” over many others.
Why “Tez” has been named so?
If you are known to Hindi language, you might know that “Tez” translates to “Fast” in Hindi. By naming it Tez, Google signals the fast working of the app. Google by this name, may be, want to indicate the notion that their Tez app will carry transactions quickly.
So what are you waiting for? Download Google Tez Payment App now and start making digital payments.