Google TEZ:Search Engine Giant Google is reportedly all set to launch localized digital payment service in India. According to the sources, the new Google Payment Option is named as TEZ, which is known as Speed in Hindi.
India has become second largest smartphone market in the world and has witnessed rapid growth in the usage of internet. So Google has been focusing more on India with existing products like Android Pay and Google Wallet. Apart from Google, tech companies like Apple, Samsung, WhatsApp and Truecaller have already made their presence in India and also improvising their business models. After the demonetization, the Indian Govt is encouraging the digital form of currency. The Government has already introduced many payment gateways like UPI and BHIM.
In a bid to increase its presence in Indian Consumer services, Google is looking to add this TEZ payment option in India. This Payment service would support Govt’s UPI ( Unified Payments Interface) as well as private payment services like Paytm and MobiKwik.
Although there’s no information about the release date, Google might release it by the end of this year. Google Tez might be a dedicated mobile App supporting other services.
According to the Experts if Google launches Tez Payment Service, then it will have a significant impact on other gateways. We have to wait for some time to know the complete features of Google TEZ.