With the launch of Google Tez payment app in India, Google has started targeting the emerging digital payment services in India. Also with the new Referral schemes launched by Google Tez app for payments, the app is vigorously growing among Indians. With the Tez app, one can directly pay the nearby Google Tez users directly from your bank account to another. With Tez, one does not need to make separate accounts or use e-wallets. Tez uses Unified Payments Interface (UPI) for making transfer money from accounts of different banks.
On being asked why Android Pay wasn’t introduced in India, Google spokesperson said “It’s still early in the game and a large proportion of the industry is still cash-based. Many other players will have to innovate and play hard”. Further, Android Pay is based on NFC Technology, but India isn’t a market for NFC based platforms as of now.
Google Tez Payment App Working with 4 Major Banks of India
Google Tez Payment App Services currently works with 4 major banks, Axis Bank, HDFC Bank, ICICI Bank and State Bank of India to enable access to payment services across all the 55 UPI-enabled banks. The Google Tez platform is available to download for both Android as well as the iOS platform. Once downloaded, one will be asked to put up some security codes and PIN/Pattern or Fingerprint sensor to make the transactions more secure.
Further, the app has an option “Pay Nearby” to send and receive money to nearby Google Tez users without personal details like Bank Account Number and Phone Number being shared.
Referral Scheme for Google Tez Payment App in India
The Google Tez app for payment currently offers a referral cashback of Rs. 51 for making another user download the app and make a transaction of above 50 using the app in India. For a user, the referral scheme is limited to 50 per user. Apart from this, the users also get a chance to win one scratch card by referrals by which one can earn up to Rs. 1,000 per week. Types of Scratch Cards: Google Tez Payment app awards two kinds of Scratch Cards – blue – sent to the sender and the recipient – and red – awarded to the sender once a week.
The red Scratch Card, which is also said to be ‘Lucky Sunday’s’ card, unlocks only on Sundays when the user gets a chance to win up to Rs. 1 lakh, it added. “You don’t need to hunt for coupon codes. Just use Tez payment app by Google and if you win, your rewards go straight into your bank account,” Google further said on the Google Tez website.