Last week on Monday, Google did launch its payment application called as ‘TEZ’. So basically what is TEZ and how can one use it in day to day payment transactions? Worried about money and Spam issues? So folks, not to worry as today I will be explaining about TEZ for your simplified understanding and busting the myths and scares people have before adopting a new payment related app.
TEZ, is an app developed by Google working along with the National Payments Corporation of India (NPCI) in accordance with its Unified Payments Interface (UPI) standard. It has been made especially for India that allows users to securely pay both online and offline and also makes person-to-person transactions.
Few months ago we had seen a launch of similar app – ‘BHIM’ which also enabled users to transfer money to others bank account using bank IFSC codes. Similarly as of now, TEZ mobile app supports 55 Indian banks like ICICI Bank, State Bank of India and HDFC Bank to name a few.
How to use TEZ? Please follow the simple steps below:
Step 1: TEZ app is available for download @ Apple’s App Store and Google PlayStore. The size of this app is around 8MB which very small.
Step 2: During the setup, users will have to select the preferred language option which includes English and other native languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, among others.
Step 3: Next it will ask you to provide your mobile number which is registered with your Bank account as well.
Step 4: After which a user will receive OTP via SMS for verification and you will be provided with an option to set up a Google PIN or screen lock on the phone.
Step 5: Then a user needs to select a bank from the list to link it for UPI transactions. In case, if you have already setup UPI for banks, it will ask your existing UPI pin, if not the app will guide you to get it done.
Step 6: On the other hand, if you have enabled UPI on the account, it will ask for the existing UPI PIN. After this, Tez creates a VPA using the name in your email ID.
Step 7: For making payments, tap on the recipient from the list of users. You can also add recipients using their bank account numbers and IFSC codes to transfer money or send money via a UPI ID, QR code or phone number.
Additionally, Google has also provided ‘cash’ mode which makes use of proximity feature of smart phone where users will be able to make transactions if they are near you and all you need to do is click on the ‘Cash’ button in the app, and follow the instructions.