On Monday i.e. 18 of September, Google will foray into the Indian payment market with its new app specifically designed for the Indian market. The new app is called ‘Tez’, which in the Hindi language means fast.
Google already has a payment tool called ‘Android Pay’, which, unfortunately, is not active in India yet. While Samsung made the move first by entering the Indian payment market with its Samsung Pay available on even mid range phones like Galaxy J7 Pro, looks like Google Tez is Google’s first step into the Indian payment market.
Tez is a cross-platform payments app that will also be available on desktop besides having a dedicated Android app. Not only that, in future Google Tez will be integrated into other apps too.
Google Tez, like other payment apps, PayTM, FreeCharge, PhonePe etc will feature a digital wallet where you can store money. It will be integrated with Unified Payments Interface (UPI) and credit cards. In addition to that, it will also support third party wallets like MobiKwik and PayTM.
To recap, recently TrueCaller also started payment feature on its own app in India and WhatsApp is also working on a new payment feature. On the other hand, PayTM is said to be working on a new chat app.
Source: The Ken