Google has launched a new payment app named Tez in India. Users can use Tez to make money transfers to each other and to buy goods from physical stores and mobile websites. Keep on reading the following contents for more details. BTW, you can also get top app rank boosting service here. 

Tez - which is Hindi for fast - transfers money from a user's bank account directly to the recipient and thus acts as a replacement for a bank card, in a similar manner to Android Pay or Apple Pay. It is based on the country's Unified Payment Interface (UPI) standard - a government-backed system launched last year to encourage digital payments. 

Google has partnered with four banks — Axis Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI) — for the solution. While they will be exclusive platform partners, Tez will work with all 55 banks who are on the UPI platform, Google said. 

Tez also syncs with contact list of the user's phone, making it easier to transact, and it's accepted at all the places where UPI is accepted. The app also boasts of multiple security layers. Digital payments have got a huge push post the government's demonetisation exercise in November last year. According to government estimates, digital economy has the potential to go up to $1trillion in the next few years. 

Finance minister Arun Jaitley, who was present at the official launch of Tez, observed that during November, December and January a lot of people made digital payments more out of compulsion than finding it a more convenient method to transact. But that compulsi. 

Google has released Tez on both Android and Apple iOS platforms. Keep your eyes here if you want to know the development trend of mobile app industry. And if you need top app store optimization services to boost your app rank, our ASO team can be your best choice. Contact us now!