Google to launch Tez, a digital payment service
Posted on: 14/Sep/2017 5:08:09 PM
Google is likely to launch Tez – a digital payment service that works on Unified Payments Interface. For this, Google has started sending invites during a recent event in New Delhi.
The invite states that Google is continuously trying to make sure that their products will meet the needs of everyone. The invitation calls for a press conference where details of the product shall be announced.
It is expected that Tez will function like Android Pay. WhatsApp owned by Facebook is already in the process of developing a new payment method with which it will step into the emerging digital payment market in the country. For this, WhatsApp is in discussions with NPCI and few banks to equip financial transactions through UPI.
To note, WeChat, Hike Messenger and few other messaging platforms have already started supporting such payment methods based on UPI.
By December this year, the number will increase to 5 million PoS, we believe. This is a clear indication of the growth in infrastructure for digital payments that will be about 3 times in just one year.
