Google launched Android Pay at the end of 2015 and its deployment is being rather slow. In Spain we welcomed him this summer, although at the moment Android Pay only works with a bank. While Android Pay is already in some regions of Europe, North America and Asia, the company has launched a new mobile payments app, its name is Tez and is currently exclusive to India.
The Indian market is one of the most important for the mobile industry. According to Google, it already has more than 300 million users and the improvement of the infrastructures is helping that the number increases more and more. However, mobile payments in India have not yet taken off as the population continues to prefer cash. This is where Tez comes in.
Google adapts to conquer mobile payments in India
As we said, Android Pay is already in some regions of Asia, but there are markets in which the Google header solution is not so well adapted to the needs of users and the case of India is an example. It is estimated that mobile payments in India will increase to 500 billion dollars by 2020, so the potential of this market is enormous, so as to create a specific application for them.
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With respect to operation, Tez looks above all for simplicity and ease of use. For example, while with Android Pay we have to enter a credit card, Tez is linked directly to a bank account. In addition, it is compatible with the United Payments Interface payment standard, which makes it compatible with most banks in the country . On the other hand, Google is partnering with retail chains like Domino’s or Jet Airways to facilitate payments.
With Tez it is possible to send money to other users through your chat, directly from bank to bank and instantly without having to bring the phone closer. With the ‘cash’ mode, especially for payments in shops, it does need proximity, but it does not need the device has NFC nor is it necessary to scan a QR code, just that both have the app installed so that the transaction is opened. In addition, sensitive data such as the telephone number or bank account are not shared and the signal is encrypted, so it can not be intercepted.
At the moment, Tez is an exclusive app for India, but Google hopes to expand it to more countries like Indonesia and the Philippines soon. The app is now available on Google Play and the App Store.