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Google to launch a new payment service in India and it is named as ‘Tez’

We already know that Google really loves India as the company already announced many things for the country in Google for India, Made for India and more. Now a new report says, that the Mountain View company is all set to launch a new payment service across the country and it is named as ‘Tez‘ which means ‘fast’ in Hindi language.

 

According to source, the search engine giant will launch a new payment service called Tez by next week. And the new app will be separate from Android Pay, which the company already has for solution of digital payments.

 

As we all know, since the demonetization the popularity and demand for online payment has increased in the country. Because now people can pay their bills and transactions anywhere as well as in anytime. So, this is the perfect time to launch a payment service solution and Google is ready to grab the opportunity.

 

Now speaking about the new Google Tez, it will integrate with Unified Payments Interface (UPI), the government-owned platform for mobile transactions, and also with other popular mobile wallet services such as Paytm and MobiKwik.

 

Moreover, the source also spotted documents which reveals that Google has applied for a trade mark for “Tez”. And it is also to know that the search engine giant has also sought to secure this brand in other countries such as Indonesia and the Philippines. It’s unclear why Google would want to launch another payment service besides Android Pay, but the company is Google and there is no strange to hear things like this.

 

Well, Google will not find easy in the payment service area because the company has to fight with many others and the major one is Paytm which is the most popular service in the country. Samsung has also bought its payment service in the country called Samsung Pay, and there are many well-known companies are working in the market. So, let’s see how Google will cope up the situation and gain profit from the digital payment setup service.

 

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Source: The Ken

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