Google has launched an Android and Apple smartphone payments app in India called Tez
The app allows users to transfer money to one and other, and to buy from mobile websites and physical stores.
It is based on the country’s government-backed system launched last year to encourage digital payments – Unified Payment Interface (UPI) standard.
Google announced that Tez works with 55 banks, including India’s largest lenders.
Google stated in its India blog: “It doesn’t cost you anything to use Tez, and your money stays in your bank so you continue to earn interest.
“And best of all, because Tez works directly with your bank account, there’s no need to top up a wallet balance or pay fees to get money out.”
Written by Leah Alger