Google launches smartphone payments app in India to ease money transactions in faster, better, secure way. At last the Indian customers have got a strong competitor in place for Paytm. Paytm have almost been the monopoly in the Indian markets when it comes to online payments or digital payments.
Google’s new smartphone payments app named “TEZ” will enable to make payments from their bank accounts for various day to day services. Google also plans to introduce several other digital solutions to India specific and upcoming is the mobile wallet option to be available by next year.
INDIA – THE PARADISE OF INTERNET USERS
India, currently being the second most populous country in the world considered to be a major sales arena for too many Internet companies. Also, it is the Youths in India are more active on the Internet makes Internet companies to bet big on this massive target base. Companies like Facebook, Microsoft, Google and several other companies making the most of the Indian audience.
DEMONETIZATION AND DIGITAL SOLUTIONS
Ever since the demonetization happened in India, global players have been crafting digital strategies to bring solutions for India which faced 2 months long money crunch during the same demonetization time. Paytm have made a lot of revenue in the crunch period by effectively serving some percentage of the struggling Indian audience with its digital wallet and other digital services. Once then Paytm have been considered an unofficial monopoly in the digital payments and transaction space. With Google kicking in with “TEZ”, we can expect a lot of competitive solutions to be offered to us.
WHAT CAN I DO WITH TEZ?
Well, TEZ being the digital smartphone payments app specifically designed for Indian audience help us in making digital transfers and transaction in a neat manner. Google uses Audio QR code technology with which you can simply scan the receiver and sender codes and complete the transaction.
This is an ultrasound technology which doesn’t require the sender to share any of his information like the Mobile number, address, bank account information, etc. You do not need to share of this vital information to engage or complete the transaction. There is a feature though to send or receive payments with the mobile number which you can use based on your interests.