Tez is All about Linking your Phone to your Bank Account
With already established players like PayTM, PhonePe, and the official app BHIM, the Google Tez app still managed to stand out and here I have more details for you. Well, let me assure you of the fact that Tez is not a mobile wallet as you might first imagine. Tez seems to look a lot like the payment solutions in the west and not from India, like Apple Pay or Android Pay, only without the NFC.
This basically means the fact that it provides a way of linking your phone to your bank account, so you have the chance to pay from your bank account using your phone to deduct balance.
Since Tez uses API, naturally it works with many banks such as Axis, HDFC Bank, ICICI and State Bank of India and others that support UPI and even more, Google is working with large food chains like Dominos and Jet Airways to allow payments using Tez.
To register, the app asks for your mobile number associated with your bank accounts to set up the app. You are given a list of banks to select from. Once you have entered your phone number, then the app sends an SMS from your number to the bank to get UPI access and this creates a fresh UPI ID for you and links it to the Google account.
On Android, the Google Account is selected by default as the one used on your phone, but you can change the ID by logging into the other account; the ID will be linked to one Google Account only. Then, the Google Tez app creates a new UPI ID, or VPA, by picking up the name from the Gmail ID. After that, I can assure you that sending money using the app is a piece of cake.
This lists all the contacts in your phone book with Google Tez app in one go and you also have the option to enter Account Number + IFSC details, UPI ID, Scan QR code, or Tez User Phone Number. And I personally love the special feature called Cash Mode which helps you send money without even needing the recipient’s number or QR codes, instead of using an audio matching system.
There is though a limit of just ₹1,00,000 on money transfers and no more than 20 transfers in a single day. However, I don’t see that as being a problem, don’t you think?
If you are curious about the app, then give it a try right away. You can grab Tez – A new payments app by Google from here.
