Google’s Indian-born CEO Sundar Pichai on Tuesday tweeted that ‘Tez’ will help India move closer to digital transformation a day after the company launched its new digital payment app. “We hope that the launch of @TezByGoogle will help take India one step closer to your vision of @_DigitalIndia,” Pichai tweeted.
Finance Minister, Arun Jaitley who launched the app had said that the idea of “Tez” was discussed in January after demonetisation. “Google saw a great potential in Indian economy and businesses,” Jaitley said. “Google’s new digital payments app over the next few months was likely to make major advances in digital transaction volumes,” he added.
Tez allows users to make small or big payments straight from their bank accounts at no cost. Built on the Indian government-supported Unified Payments Interface (UPI), the app was built for India. it is available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu).
The app works in collaboration with four banks including Axis Bank, HDFC Bank, ICICI Bank and State Bank of India to facilitate the processing of payments.
