Google launched Tez, its unified payments interface (UPI) based payments app, in India in September last year. And it’s already earned more than between 10 and 50 million downloads in the country. So naturally it’s a popular app.
Much like other UPI-based payments apps on the market, Tez allows users to link their bank accounts to the app for quick and easy digital transactions. However, unlike other payments apps, Google Tez comes with a unique ‘Audio QR’ technology which uses ultrasonic sound to establish a unique connection between the sender and the receiver. This allows smooth transactions, without the need to share information like bank account details, credit card numbers or phone numbers.
In just three months from launch, Google Tez racked up over 12 million users and the company introduced a new ‘Bill Payments’ option within the app for added functionality. The ‘Bill Payments’ option now allows users to make payments for their Reliance Energy bills. Earlier services like Airtel, DishTV, ACT Fibernet, Docomo and products on Mi.com and the Mi Store app were included in the app under the billing section.
With Reliance Energy, Google Tez has bagged its first utility link, allowing Tez users to pay their electricity bills directly from the app.
A Reliance Energy spokesperson said, “It (Google Tez) will benefit 2.50 million of Reliance Energy billed customers who make electricity bill payments and various exciting offers are also in store with Google collaboration”.
Tez has been lauded for its simplistic interface and ease of use, and within 24 hours of its launch, it accumulated 4 lakh active users who transferred a gross merchandise value (GMV) of Rs. 1.8 crore in the same time span, according to Google’s earlier statements.
Tez users can easily sync their Google accounts to the app to speed up payments and transactions. The app’s rapid growth could not be matched by similar apps and even the government’s BHIM payments app saw a fall in transaction volume. Since Google is already one of the most popular and universally accepted search engines, adoption of the payments platform is an easy affair.