Google Tez is now Google Pay. Google re-branded the Tez app in August 2018 and named it as Google Pay. The new app Google Pay has more added features. Refer “What Is Google Pay?” to know more about it.
Google Tez App is a payment services application based on UPI (Unified Payments Interface). Tez allows you to transfer money digitally from your mobile phones. Tez means “Fast” and Google’s Tez allows you to make big or small payments to anyone at anytime at a very rapid speed and it’s safe. Let us explore Google’s this new service in detail and understand how tez app works.
The Tez app is supported by majority of Android and iOS devices in India.This app supports a lot of regional Indian languages (Hindi, Marathi, Tamil, Bengali, Gujarati, etc)
Tez was release on 29th September, 2017 and since then there are millions of downloads and transactions made by this app. “Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India”, Google states this in Tez’s official website.
Tez is not having a concept of transferring money from bank account to a wallet and then using that money from wallet. Tez allows you to transfer money directly from your bank account to recipient’s bank account. This removes the intermediary wallet system which most of the digital payment services have. Your money is in your bank account and you keep getting interest for it.
1. Getting Started With Google Tez App
Install tez on your smartphone. Installation can be done via 2 ways.
Note: The referral bonus offer expires on 1 April 2018.
Once installed, open the app and follow the steps.
Enter the mobile number which you have registered in your bank
2. Setting Google PIN or Screen Lock For Tez App
Security is very important while using a digital payment medium which has your bank details. With Tez App, you can transfer directly from your bank account. This means that the app has direct access to your bank account. So in order to prevent unauthorized use of your app, you are suppose to set up either Google PIN or Screen Lock.
You will have to enter Google PIN or Screen Lock each time when you launch the app.
3. Linking Your Bank Account To Tez App
Tez does not force you to keep money in it’s wallet. Hence, you have to add your bank account to the app. Once the bank account is successfully linked, you can directly use the app as a medium to transfer money from one bank account to another.
This feature of the app makes it more easier and convenient than IMPS or NEFT. You do not have to add any beneficiary or wait for any verification. If the recepient of the money is also having tez, you just need his mobile number which he used to register with tez. Transactions can be done using UPI ID, Account Number or even by Scanning QR code
4. Using Tez App for day to day transactions and earn rewards
Once you have linked your account then you can use the app anywhere and anytime to send or receive money. You also earn rewards for doing transactions.
The app is running various promotional offers to attract users. The Referral Offer allows you to share a referral link of app to your friend. Once your friend installs the app using that link and makes the first transaction then both, you and your friend gets 51 rupees. The amount is directly credited to your registered bank account.
Besides the app gives you scratch cards on every transaction or Rs. 500 or more. This scratch card can make you win upto rupees one lakh.
Initially for every transaction above 50 rupees, a scratch card was gifted. Now, that offer is modified and you & your friend gets a scratch card on making a transaction of rupees 150 or more. Using this scratch card, each person can earn upto 1000 rupees. Please go through the app offers. App offers may change.
Update: Google Tez is now Google Pay
#TezByGoogle #Tez #MoneyTransferApp #DigitalIndia