The digital payment app of Google named Tez has achieved a significant success in the field of digital payment. The report says that starting from its launch date and till now, the app has been downloaded by the users more than 5 million times.
Sources also said that in one day the app recorded 1.8 crores gross merchandise volume (GMV) done by around four lakh users.
The National Payment Corporation of India informed that, in September, the Unified Payments Interface (UPI) had recorded a whooping three crores transactions.
By September the transaction increased by 85.32 percent. The transaction amount that has recorded in September was 3.07 crore, and in August it was 1.66 crore. From 3.07 crore, BHIM has done 76.03 lakh transaction which is 24.7 percent of total market share.
By the using this app, users can make small and big payment from their respective bank account. Axis Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI) are the major partners of Tez. This app provides payment option over 50 banks which work under UPI system.
Google introduced its app on 18th September 2017 in New Delhi. This mobile wallet application has been built with the UPI technology and has been made by the National Payment Corporation of the India (NPCI). It works in every smartphone. It is developed in English and seven other languages used in India. This app allows users to transfer money without the bank account details. It uses the UPI ID of the user to make payment. It also supports Hindi, Bengali, Tamil, Marathi, Gujarati, Telugu, and Kannada. During the time of launching, Google introduced an offer. For example, by referencing the app to others user can get Rs 51 in their Tez wallet and they can redeem around Rs. 9,000 with the help of this offer. The last date of this offer is 1st April 2018.