Tez (software)

Tez was a mobile payments service by Google, targeted at users in India,[1] later folded into the new Google Pay app on August 28, 2018.[2] It operated atop the Unified Payments Interface, developed by the National Payments Corporation of India.[3] It can be used where UPI payments are accepted. Tez worked on the vast majority of India's smartphones (with apps for both Android and iOS) with the Android app supporting English, Hindi, Tamil, Bengali, Gujarati, Kannada, Marathi, and Telugu.[1] There were plans to release the app in other emerging countries including Vietnam, Indonesia, and Thailand.[4] "Tez" is the Hindi word for "Fast". Within 37 days after being launched, Tez got about 8.5 million installations. Over 30 million transactions were made on the app as of October 27, 2015.

Tez (Google Pay)
Developer(s)Google
Initial releaseAugust 15, 2015 (2015-08-15)
PlatformAndroid, iOS
LicenseProprietary
Websitetez.google.com

Service

Acceptability

Tez is currently accepted by PVR Cinemas, redBus, McDonald's, ACT Broadband, State government Electricity boards and is expected to be joined by a number of other businesses like Dish TV, Jet Airways and Domino's Idea, Vodafone, Swiggy, Zomato, Uber, Ola, Clubfactory, Zappfresh, Amazon, Flipkart and many more bussinesses. Google is also working with existing advertisers and online e-commerce platforms like Shopify and payment aggregators like BillDesk and PayU. Google also plans to add even more ways to pay on Tez (e.g., credit cards and wallets). Select phones from manufacturer partners Lava, Nokia Mobile, and Panasonic will come in with Tez preinstalled.[1]

Device compatibility

The app is compatible with the vast majority of Android and iOS devices.

Technology

The application does not require users to share any personal information such as mobile numbers or usernames like other payment applications. Instead, it uses audio QR codes that rely on sound transmitted at a frequency inaudible to the human ear from the payee handset to the merchant handset. This technology does away with the need for NFC chips on the handsets, giving it an advantage because a significant number of smartphones in India and other developing markets do not have NFC chips embedded.[1]

gollark: Policy prevents us from spending more than 3 per employee.
gollark: This isn't well-defined.
gollark: As a temporary solution it all got fed to one of our negative frequency trader machines, which will apply it to all financial markets simultaneously and thus keep it out of the way for a few years.
gollark: We tried feeding the capital into excess letters from the language models but then ran into Unicode concerns.
gollark: By some estimates, 3% of our processing power is spent on accounting.

References
  1. "Introducing Tez—a mobile payments and commerce app from Google, made for India first". Google Blog. 18 September 2015. Retrieved 18 September 2015.
  2. Caesar Sengupta GM (August 28, 2018). "Google Pay — the next step in the Tez journey". Google India Blog.
  3. "Introducing Tez, a mobile payments and commerce app from Google". Google India. 18 September 2015. Retrieved 18 September 2015.
  4. Ong, Thuy (September 18, 2015). "Google's new payment app for India uses sound to transfer money". The Verge.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.