With an increase in smartphone users in India and fast growing connectivity, the internet remains essential for many citizens. When it comes to online payments, those smartphones often go unused, and paper cash is the key always. To make digitalization a well known and firm concept, Tez eventually developed. It works everywhere and for everyone.
After the launch of Google Tez which is a new digital payment mode for Indian users. The app works on UPI. Users can make up to 20 transactions in total up to Rs 1 lakh in a day. It is different from a mobile wallet as one cannot store any money in any e-wallet. You can also get five scratch cards per week upon 150 Rs transaction to each person. These scratch cards can fetch you up to Rs 1000 each.
Your bank account directly receives or debits the cash. It allows one to make payments for purchases made at stores that accept UPI based transactions. Thus, the users must link their bank accounts with Tez by entering a UPI PIN before making deals through the app. The transfer procedure is simple, secure and fast. The app assists the users with eight languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telegu. It had soon joined the top digital payments apps in India.
How to download the Tez app?
After Google has launched the Tez app, they issued it on all android and IOS smartphones. It is a UPI app. The download procedure is as follows:
- Firstly, you can use the link sent by anyone.
- After which you and that person will receive 51 Rs. for downloading the app.
- You may also download the app from your play store.
- The logo s a green and blue “T.”
- Click the download button.
- It asks you to verify your mobile number.
- Insert the number registered with your bank account.
- Install it and update your details.
- Set a four-digit pin as a gate pass to your data.
- You can now start using Tez to transfer money and pay any bills.
How to transfer money on Tez?
Tez works on UPI interface and hence can establish different ways of transferring money. Some of them are:
Cash mode: to pay people nearby
- Go to the main screen
- Tap on cash mode
- Swipe up (pay) or down(request)
- It will detect the user you want to pay for or receive from.
- Tap on the name
- Enter the amount
- The receiver must stay on the receive mode
- The receiver will then be notified about an incoming payment.
- Once accepted the payment is then initiated.
Second Method: by Entering a users phone number.
- Click on the pay icon o the bottom left
- Tap on the account number for IFSC transfer.
- And select second option to send money through UPI or QR code/ manual entry.
- You can also select a contact by phone number. This works only if the user you finding for is also Tez enabled.
- Make your choice and tap on ok
- You may select between pay/ request.
- Once you do so, you will have to enter your Tez PIN
- Finally, the payment will take place.
How to pay a bill through Tez?
This app offers its users the best facilities. One such facility is online payments. A user may pay bills of any Tez enabled merchants or even pay online generated bills such as electricity/landline/prepaid mobile recharges. The payment process is as follows:
- Go to the main screen
- Tap on the cash mode
- Swipe down to pay a nearby merchant/shopkeeper.
- You can also pay online bills by clicking “new.”
- then clicking on the + symbol that is next to any of your selected options: 1)UPID/QR 2) A/C Number 3)Pay your bills and DTH.
- Once you select your choice, you may click pay
- Enter your PIN, and the transfer takes place.
Associate yourself as a merchant:
Tez being a payment app that facilitates transactions, users can pay billers, third parties, and other merchants. It also provides fast and safer money receiving mode for the merchants/ businesspeople. One can pay even small merchants and autowalas by just bringing the payers, and the payee’s phones close and hitting pay or request. Then they must insert the four-digit PIN code, and the payment is then initiated. This enables the merchants to accept payments via Tez for the purchased items. They may also communicate with their buyers through Tez. Offers can also be sent to the buyers as a call to action tool. The users and customers may also be able to visit your website/ business application directly through Tez. Google thus reserves the right to offer specific services under this programme selectively.
The communications remain solely between the merchants and the user. Tez thus acts as an intermediary/ link. Therefore the payments are exclusively between the merchant and the user not limited to any payment transactions. Tez does not provide settlement services to merchants. You may require a settlement bank account that is verified with a payment participant to receive the settlement amount. The payment participants rule and government laws will be applicable in dealing with disputes, chargebacks, and reversals.
All expenses arising from entering into a contract with the participants have to be borne by the merchants. Thus meaning that the relationship between Tez and the merchant is on a principal-principal basis, nothing can create any association/ partnership/joint venture and principal and agent relationship or any such connections. The merchant is not allowed to create an obligation on behalf of Google. No interest lies in your offers from Google’s side.
Use of Tez for the business programme:
The merchant can use this programme with regards to the combines Tez for business terms, the Tez brand guidelines and applicable laws. Thus the application used in connection to make or receive payments for a bonified sale to the user. This feature cannot be used for:
- Illegal businesses.
- To promote, sale or exchange of an unlawful transaction
- In connection with deceiving activities.
- That falsely suggests that the business is endorsed by or associated with Google in any way. This may result in defamation of Google’s reputation.
- An investigation can be held on any suspected wrongdoing and the damages to the third party or Google may be claimed.
- You cannot in any way mislead the buyers and charge different rates to different buyers or extra charges.
By accepting the ‘Combine Tez for Business terms” feature you accept the following rules in brief:
- You are an adult. i.e., 18 years of age.
- You can enter into a legally bound agreement
- Only businesses in India can use this programme. Thus stating that you as a merchant have authentication to hold run your business.
- Authority given to the employees and associates forms a part of your responsibility.
What are the benefits?
- It is an e-payment app like any other of its existing competitors.
- Direct bank to bank payment feature is the best benefit.
- Backed by the expertise of the Google employees Tez works 24/7 to detect fraud, prevent hacking and to validate and shield the data of every user.
- Cash mode where one can pay nearby without sharing personal details such as mobile or bank account number.
- A programme is initiated for large and small enterprises known as ‘Tez for business” to connect with many consumers within the Tez app to make payments and share redeemable offers products and updates.
- It is UPI enabled, and thus over 50 Indian banks are already associated.
- Tez supports several Indian languages. Sending money thus becomes easy to understand by nonlinguists.
- Tez also uses the phone’s PIN or fingerprint as security. One may also use their Google PIN to guard it.
- If anything goes, wrong users may seek support from the customer service almost instantly.
- It is currently associated with RedBus, PVR, Dominos, Jet Airways, and DishTV some of the most well-known brands within the country.
- Tez also allows people to make a payment through a QR code, a phone number or bank account details. (This being optional.)
- Businesses may start their own Tez channels with accepting payments from customers. Tailormade offers and custom-made features that will grab the attention of customers towards your outlets.
- These transactions appear in a chat like a window where one can also exchange messages.
- Earn rewards for every transaction. Awards are in the form of money directly hitting your bank account. This point hence it’s USP.
- One can earn 51 rs by the referral programme of this app.
What are the disadvantages?
- There remain many bugs due to higher traffic
- Takes a lot of time to connect with the bank to gather the users account details.
- No NFC payments are good cause range is low.
- No option like “pay.”
- One cannot edit the UPID
- There is no option to save beneficiary.
- An SMS charge is levied while adding the account.
New features that may hit the markets of South Asia:
Google Tez is now looking at exploring an expansion into other countries. Even though it is one of the newest apps Since it has a brand attached it is wide spreading rapidly. This app may soon allow card payments and have an add the feature of an e-wallet. Google firmly believes in UPI and the mechanisms. They feel that take on the other apps as the apps are specific to technology or payment. What is coming out from Tez was much broader and eco-friendly. The entire idea is to build a base through which one may pay however they like. Moreover, with the payment instrument of their choice. Tech innovations have already been established in the app like an audio QR that uses ultrasonic waves to initiate the transfer between two accounts. Tez is set to add geo-founded functions.
The perceived long-term goals are to gain a broader market of users and associate with merchants who are Tez enabled. The growth has been impressive and has processed over 140 million transactions. This app has already started working with online merchants by introducing Tez as a payments method for online checkouts. Tez will also soon be partnering with Bharat QR to expand the merchant base.
Introducing card and wallet payments will allow Tez to open to different functions for their payment systems. Other markets are not UPI enabled, and various other features will help google launch Tez in various other markets specifically South Asia.
They want to introduce economy based functions and applications. As economic values and cultures vary even Tez will secure specific new features elsewhere.