Google is finally joining the digital payments ecosystem in India. Incidentally, it is not Android Pay, a solution that the company offers on Android phones in many countries, but a customized-for-India-app called Tez—which means “fast’ in English, suggesting that speed with which you can make payments will be the key. The Tez app is now live on the Google Play Store for Android phones and the Apple App Store for iPhones.

For the Tez app, Google has on board banks that support the Unified Payments Interface (UPI). The government has been pushing the UPI platform to boost digital payments in India, to reduce use of cash.

You will be able to use the Tez app in seven languages—Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.

The app also has a proximity- and location-based Cash Mode, which lets you send money to a nearby contact without either party having to share their bank accounts and contact details—perhaps as simple as paying cash, but without any paper notes. This uses a unique sound signature to pair with a nearby phone, an audio QR code , and make the payment.

GET INDIAN STOCK MARKET RECOMMENDATIONS AND MORE CLICK HERE AND GET YOUR OFFERS >> http://ripplesadvisory.com/nifty-future.php

The banks on board include HDFC Bank, Axis Bank, ICICI Bank, State Bank of India, Airtel Payments Bank, Citibank, HSBC and a host of other public sector banks. When you wish to add a bank account to the Tez app, you select the bank where your account is, and Tez app will ask for a confirmation that it will send an SMS from your phone to verify your number with the bank. Once the SMS is sent, the app seamlessly detects the bank accounts linked with that mobile number (even more than one, if you have multiple accounts). Select any bank account that you wish to use with Tez, and you are ready to make and receive payments directly via the account.