Technology Inceptions: How to Reduce Heat Generated in Artificial Retina?  |  Science Innovations: How Uncertainty in Findings Impact Credibility of Climate Scientists  |  Teacher Insights: How Children Learn and Decide What to Teach  |  Health Monitor: New Solution to Reduce Tissue Damage in Heart Attack Developed  |  Education Information: AIIMS Bhubaneswar Got Second in Kayakalp Award for Second Year in a Row  |  Education Information: India gets maximum foreign students from Nepal, Karnataka for higher edu: HRD  |  Science Innovations: Caltech Scientists Discover Worms with Three Sexes  |  Education Information: Degree College Teachers Training Programme from 22nd Nov to 12th Dec 2019  |  Career News: ANNOUNCEMENT FOR THE POST OF JOINT DIRECTOR, (NCERT)  |  National Edu News: UGC guidelines on plastic use  |  International Edu News: Asian students converge on 5 countries  |  Health Monitor: Playing With Fire  |  Finance: Trading in an Uncertain World   |  Technology Inceptions: Scientists are Wearing VR Goggles to Analyse Data  |  International Edu News: Macquarie University's Biofoundry to Set Up Synthetic Biology Center  |  
September 20, 2017 Wednesday 10:59:18 AM IST

'Tez' to take India closer to digital transformation: Pichai

Finance

New Delhi: A day after Google launched its new digital payment app "Tez" in India, the company's Indian-born CEO Sundar Pichai on Tuesday tweeted it will help India move closer to digital transformation. "We hope that the launch of @TezByGoogle will help take India one step closer to your vision of @_DigitalIndia," Pichai tweeted.

Finance Minister Arun Jaitley who launched the app here had said the idea of "Tez" was discussed by Pichai in January, just after demonetisation. "Google saw a great potential in Indian economy and businesses," Jaitley said, adding that Google's new digital payments app over the next few months was likely to make major advances in digital transaction volumes.

Built on the Indian government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts. The app was built for India, working on the vast majority of the country's smartphones and available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu).

The app works in partnership with four Banks -- Axis Bank, HDFC Bank, ICICI Bank and State Bank of India -- to facilitate the processing of payments across over 50 UPI-enabled banks. According to D.D. Mishra, Research Director, Gartner, Tez provides promising features which are in-line with the requirements.


"It is too early to say whether it can be a game changer as evolution in this business is going to continue, but yes it has the capabilities to bring some disruption as of now," Mishra said in a statement. Moreover, Google's information about an individual's preferences can play a good role in enabling business to know their preferences and provide offers with interesting options.

"The mobile wallet industry too, is evolving and we are at an interesting stage in this competition. Eventually, UPI payments will have an upper hand if it continues to remain free and provide better security, convenience and add more Value Added Services," Mishra informed.



Comments