Education Information: UCL announces plans to be open and ready to teach for September 2020  |  Technology Inceptions: Robot chef trained to make omelettes  |  International Edu News: Oxford Foundry backs four new COVID-19 recovery innovations  |  Leadership Instincts: Three Harvard graduates awarded Taliesin Prize  |  Science Innovations: IIT, BHU to re-purpose approved drugs from DrugBank database  |  Policy Indications: Consultation process for new STIP initiated  |  Policy Indications: NTPC accelerates Learning & Development Opportunities for 19000 Employees  |  National Edu News: Prime Minister announces "My Life My Yoga" Video Blogging contest  |  Science Innovations: IASST scientists develop herbal medicine loaded smart bandage for wounds  |  National Edu News: 4 COVID-19 Bio Banks established by the Department of Biotechnology  |  Science Innovations: A Rapid Response Regulatory enabling mechanism against Covid-19  |  National Edu News: Scaling up of COVID testing centres in laboratories and Universities   |  Leadership Instincts: DST initiates COVID-19 India National Supermodel  |  Policy Indications: Responsible AI for Youth Programme  |  National Edu News: IT Minister Launches National AI Portal of India- www.ai.gov.in  |  
September 14, 2017 Thursday 04:33:11 PM IST

Google to launch digital payment app 'Tez' soon

Finance,Technology Inceptions

New Delhi: Joining the digital payment bandwagon in India and eclipsing WhatsApp's plans, Google is launching a Unified Payments Interface (UPI)-based digital payment service called "Tez" on September 18.

According to reports, "Google, Alphabet Inc's subsidiary, will make an entry into India's fast growing and super-competitive digital payment ecosystem". After the story appeared in the media, Google India sent out an invite for an event in New Delhi on a September 18.

"As we continue to make strides in ensuring that our products continue to serve the needs of everyone, we invite you to a press conference to share details on the launch of a new product developed grounds up for India," the invite read.

This confirms that a Make in India product will be unveiled at the event addressed by Caesar Sengupta, Vice President, Next Billion Users, Google. "Tez" (meaning fast in Hindi) may work like Android Pay.


UPI is a payment system launched by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform.

The other big player to join India's growing digital payment market is Facebook-owned WhatsApp.

WhatsApp has been in the news for working towards a UPI-based interface on its platform. According to media reports, the leading messaging platform is already in talks with the NPCI and a few banks to facilitate financial transactions via UPI.

According to the blog website "WABetaInfo", WhatsApp is giving shape to its plans towards bank-to-bank transfer using the UPI system. Some mobile messaging platforms like WeChat and Hike Messenger already support UPI-based payment services.


The infrastructure of digital payments in India is expected to increase three-fold by the end of 2017 with almost five million electronic point of sale (PoS) machines, the Ministry of Electronics and IT (MeitY) has said.

"We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year," MeitY Secretary Aruna Sundararajan said.

Comments