Finance Minister Arun Jaitley inaugurated Tez, The Google Payment App today on 18 September in Grand and Spectacular New Delhi Event with Google officials.
"Cash transactions are not seriously debated either in Parliament or in government: as per start of Minister Arun Jaitley speech whho added "we all got into the habit of living with a high cash economy"
Let's look at what crucial points raised by Finance Minister Arun Jaitley in Google Payment Application Tez App launch speech - Of Course the Google team was extremely key because they saw great potential both in the economy and the businesses in India in joining this campaign. We are today in September and with the technology evolution, they've come out with this app which has been explained in the last few minutes perhaps becomes the simplest form of monetary transaction. I always believe that the need for finding alternatives to a high cash economy was never on the centre stage of India's economic agenda.
It was never an issue seriously debated either in parliament or governments and we all got into the habit of living with a high cash economy and we are all paying the cost of that high cash economy, a lower tax base, several areas of life where cash was only accepted mode.
Two sets of account books And this has become normal practice in businesses. On 8th of November last year,I think which was shock to many in Indian economy,But it was something which was waiting to happen And after that we have seen the debate evolved itself.This has been in some circles because of lack of understanding,Some identified the whole idea of finding alternative to the cash economy as How much money in the banks and how much money finally confiscated.I always had 3 important red-lines as far as My own analysis is concerned.
Google Tez is arrived in India digital payment market and the smart phones with Google Tez pre-installed are Lava Mobile, Micromax, Xolo Mobiles, Nokia and Panasonic. Some existing Android smartphones are also to be loaded with Tez Payment App.
From where to download Google Tez? The official url is https://tez.google.com which allows to pay for cab, taxi, restaurants bill, tiny shooing and whatever you like. Google Tez is serious competetion for local players.
Tez app is compatible with all of your devices.
Lets come to install method of Tez App -
1) Please visit Google play store or Apple by clicking Google TEZ links given above.
2) Now you can choose your language of choice Hindi, English or Whatever, Then your you have to supply your mobile number to continue installing Tez.
3) Tez sends OTP to RMN, registered mobile number and in your Gmail account too.
4) Now Google Tez Pin or Your Screen lock gives entry to final page.
Tez is a localised payment service which according to The Ken will offer a comprehensive set of payment options like government-backed (UPI) along with Google’s suite of apps and other popular payments services in India like Paytm.
Let us know that this is the first time NPCI has allowed any mobile app to have multi-bank partnership for payment.
Tez is Bank Money Freindly - "With you can pay directly from your bank account, which means your money is safe with your bank and you’ll continue to earn interest. There’s no need to open a separate account or worry about reloading wallets" as given in Google Tez site.
Google App Tez uses UPI (Unified Payments Interface) and works with all major banks, including our partners: Axis, HDFC Bank, ICICI and State Bank of India.
Google Tez is the first app to win the approval of National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India.
The Global Player Google has now been allowed as The First foreign mobile digital processing company in India.
Pay online with Tez App by Google - Tez makes it faster and more secure to pay on online apps and websites as anywhere UPI is accepted. When you checkout, look for the Tez logo or use your Tez UPI ID. International Internet Purchase now looks easy but we have to test it.