Google Tez, the Internet search giant’s first UPI-enabled digital payments app was launched in India this week. The app is aimed at catering to an audience looking for digital payment solutions. Currently, if you need a UPI app, you can choose between popular apps like Paytm, PhonePe, the NPCI’s BHIM app, and a range of UPI apps from different banks in the country. With so many already available in the market, should you shift to the Google Tez app? Here’s a breakdown of the Google Tez app, from what it can to do, to how to use it, and our take on its capabilities.
The Google Tez app is is a medium to facilitate bank transactions between the sender and the receiver. It isn’t a digital wallet service like Paytm, but is instead like other UPI apps, such as PhonePe. One of the interesting new features from the tech giant is “Cash Mode” which can be used to send money without details of the recipient. Typically, without the other person’s ID, or phone number, you have to scan their QR code, so this is a simple and easy to use feature that could be used in place or QR codes.
Swiping down on the first screen in the Google Tez app will give you access to “Cash Mode”, which lets you transfer money without having the recipient’s phone number or needing to share your own – useful in the case of transactions at a shop or another business. For this, the user transmits audio using Google’s Audio QR (AQR) technology to identify the recipients phone near you. We tried this feature and it worked as advertised even in a noisy environment. But we must say that it took longer than expected.
To incentivise Tez app, Google is offering users Rs. 51 for referring new users to use the app. After the referred individual makes their first payment, both users will get the amounts credited to their bank accounts. Apart from this, using Tez to transfer money (Rs. 50 and above) awards both the sender and the recipient Google Tez Scratch Cards, with one scratch card per week for the sender-recipient pair. Scratch card gives user the chance to earn up to Rs. 1,000, which is transferred back to the respective bank account. We received Rs. 69 for a Rs. 100 transaction which was instantly credited to the bank account. You can earn a maximum of 10 rewards per week, up to a total of Rs. 9,000 per financial year. There are two types of Google Tez Scratch Cards. The blue ones are awarded to both sender and recipient, while one red ‘Lucky Sunday’s card is awarded to the sender once per week. This red Google Tez Scratch Card is locked until each Sunday, and users will be able to scratch it for a chance to win up to Rs. 1 lakh – as per Google.