Google Tez Mobile Payment App To Be Launched In India

Google Tez Mobile Payment App To Be Launched In India”

While Google is expanding its mobile payments service Android Pay slowly and steadily, India - world's second-largest smartphone market - is still not among the list of countries where the service is available.

While there is no word about NFC on this application, Google Tez can be taken as an Indian version of Android Pay.

While NPCI's own BHIM payments app has garnered significant traction since its December launch, the major use case for the app has been person-to-person payments.

"As we continue to make strides in ensuring that our products continue to serve the needs of everyone, we invite you to a press conference to share details on the launch of a new product developed grounds up for India", the invite read.

More news: What Apple's iPhone X Means for Asian Tech Stocks

Google is likely to announce its UPI-based payment solution for India on Monday. According to the news, it will support Unified Payments Interface (UPI), and a single window mobile payments system. While Tez means Quick in Hindi, the app's name is indicating at a fast and seamless payment method. Of Course, we all know that Google has limited success in the mobile payment apps. Additionally, messaging app WhatsApp in the near future will also allow user to send & receive money on WhatsApp. Apart from UPI, Google Tez is expected to be capable of making Paytm and MobiKwik payments from within. Mainly it has targeted on the growth of digital payment market in India.

Already google sent invitations the event on September 18th. A person aware of these developments, however, said that Facebook and WhatsApp were still some time away from deploying their UPI payment services.

In India, Google's Android operating system powers nine out of 10 smartphones, giving the company a huge base of potential customers.

However, Google releases Tez app first in India rather than other countries. It may also have further plans to enter into the other countries Southeast Asia. The company is partnering with several banks to enable payments through UPI in India.

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