Tez is Google’s first mobile payment service, which is targeting users in India. It is running above the UPI developed by the National Payments Corporation of India. It can be used where the UPI payments are accepted. The application does not need to share any personal information such as a mobile number or UPI ID or Bank account number, an audio QR code is used instead. The sound is transmitted at a frequency from the speakers of the payee’s handset to the microphone of merchant’s handset, which is inaudible to the human ear. This technology is far from the requirement of NFC chips on the handset and has an additional advantage because in India and other developing markets a significant number of smartphones do not have NFC chips embedded.
Tez is currently accepted by PVR Cinemas, redBus, Mc Donald’s and is expecting to connect with many other businesses like Dish TV, Jet Airways and Domino’s. With the language support of English, Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu, Tez works on most of India’s smartphones with both apps for Android and iOS. Tez was able to get 7.5 million installs, within 37 days of launch.
Tez allows you to get Tez Scratch Cards in the app and be eligible to win up to 1,000 rupees with each eligible transaction and Tez’s Lucky Fridays contest where you could win 1 lakh rupees every week with eligible transaction.
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