Tez by Google renamed as Google Pay, Tez To Offer Pre-Approved loans

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Google Tez has been revamped, and its updates were announced at “Google for India 2018” event being held in New Delhi. Tez has been renamed as “Google Pay“, and users will also be able to pay instant money through the service. As part of this service, Google will partner with leading banks.

Tez, the company’s UPI payments platform, will not change in terms of user experience. So, even when the name changes to Google Pay, Tez users will be able to see the same home screen, bill payment links, contacts. etc. Instead, the tech giant has announced that Google Pay will make users pay more online, through in-store and online options.

Users will soon be able to apply for pre-approved loans from major banks via Google Pay, through the upcoming update of the app. For this service, Google will partner with Federal Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, among others.

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Use Google Pay (Tez) for All Your Payment Needs :

1. Pay and receive money straight from your bank account :

Google Pay works with your existing bank account*, which means your money is safe with your bank. There’s no need to worry about reloading wallets and you don’t need to do additional KYC.

Using NPCI’s (National Payments Corporation of India) BHIM Unified Payments Interface (BHIM UPI), money transfers are simple & secure with Google Pay. You must have an Indian bank account with a phone number linked to it to use this version of Google Pay.

*Google Pay works with all banks in India that support BHIM UPI. To see the list of banks supported by Google Pay CLICK HERE.

2. Pay anyone. Even those without Google Pay(Tez) :

Starting a payment is as simple as starting a new conversation with someone in your Google Pay contacts or by entering anyone’s UPI ID or bank details.

Also ReadEU Fined Google $5 Billion Over Android Antitrust Abuse.
3. Conveniently pay bills :

Pay for electricity, gas, water, DTH, mobile, and more. You only need to link your biller accounts once to pay your bill with just a few taps. Google Pay works with billers across the country.

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4. Pay online with Google Pay :

Google Pay – anywhere BHIM UPI is accepted. When you checkout, look for the Google Pay logo or use your Google Pay UPI ID.

5. Multiple layers of security from your bank, UPI, and Google :

Google Pay protects your money with a world-class security system that helps detect fraud and prevent hacking. Each transaction is secured with your UPI PIN, and you can safeguard your account with a device lock method such as your fingerprint. If you ever need it, our help center, phone, and chat support are available all day, every day.

6. Transfer money to anyone nearby :

Use Tez Mode to send money securely to people nearby without sharing private details like your phone number.

7. Get rewarded :

Get Google Pay Scratch Cards (TM) in the app and be eligible to win up to ₹1,000 with each eligible transaction. If you win, your rewards go straight into your bank account.

8. Paying in shops is easier than ever! :

The chaiwala nearby, neighbourhood kirana, and even your favorite salon can now accept payments on the spot with Tez Mode, all while keeping your personal and bank details private.

Also ReadHow To Find Out What Google Knows About You, Data Includes : Location, Activity, Gmail, Apps.

While stating that Tez is being used by more than 1.2 million small businesses, the company intends to partner over 15,000 retail stores by Diwali. Commenting on the Tez upgrade, Caesar Sengupta, vice president of product management, Google India, said that building apps in India implies that Google would be building for a global audience. The statement suggests that Google Pay worldwide will be based on the app’s India model.

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Meanwhile, Google Pay will continue to offer instant mobile recharges, gifting options like a birthday gift, as well as promotional coupons that vary with different payments. Currently, the app is used by over 22 million users, and Google has claimed that over 750 million transactions have been completed since the app’s launch in September last year.

 

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