National Edu News: India Launches NISHTHA, the largest Teachers' Training Programme in the World  |  Technology Inceptions: Black Shark to launch new phones  |  Science Innovations: Designer algae to produce fuels   |  Parent Interventions: For a stronger father-child relationship  |  Parent Interventions: Vitamin D Deficiency in Middle Childhood Can Cause Aggressive Behavior  |  Technology Inceptions: Flipkart revamps seller onboarding process  |  Technology Inceptions: New range of Nokia Mesh Wi-Fi Router  |  Teacher Insights: Vacation to reduce cardiovascular diseases  |  Science Innovations: Chemo drug with fewer side effects  |  National Edu News: Kala Utsav 2019 Guidelines Released by MHRD  |  Education Information: Chandrayaan-2 Precisely Inserted in Defined Orbit  |  Health Monitor: Fascination for Slimness Has Racial Origins, Not Linked to Health  |  Parent Interventions: Online Brain Games Help in Multi-Tasking at Old Age   |  National Edu News: Intellectual Property Talent Search Exam 2019-20  |  Teacher Insights: Interactive Anatomy Learning Using Virtual Dissection  |  
  • Pallikkutam Magazine
  • Companion Magazine
  • Mentor
  • Smart Board
  • Pallikkutam Publications

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