Google Tez Gathers 7.5 Million Users in India in 5 Weeks
Google Tez — a digital payment service app by Google, launched in India on September 18, 2017, has garnered more than 7.5 users in 5 weeks, announced by Google CEO Sundar Pichai during the Alphabet earnings call on October 30, 2017. He further stated that the company is planning to launch more regional products in Asia and committed to make big investments in the region. Google Tez has been used to make more than 30 million transactions within 5 weeks.
Tez works on both android and iOS devices. Moreover, the android app supports various languages such as English, Hindi, Gujarati, Bengali, Marathi, Kannada, Tamil, and Telugu. During the earnings call Pichai said “We are investing more in Asia as well in addition to our go-to-market teams. We are building out great product and engineering teams. That’s what has led us to improve core products like Search, Maps, YouTube, etc, to work better in those regions.”
He stated during the interview that Google products are widely used in Asia and the company is working hard to build a user base in the region. Pichai further added that “mobile transformation is a secular shift” in the region, which helps propel growth and create a “virtuous cycle”, with upcoming new advertisers. Moreover, figures from google play show that the app has been downloaded amid 5 to 10 million times in 35 days.
The app itself is protected by device’s security method (fingerprint, pattern unlock, or pass code) as well as google pin. The transactions made through Tez are protected by ‘Tez Shield’ which prevents hacking, detects fraud, and verifies identity. Pichai added: “I’m really excited about the potential this brings for India’s mostly cash-based economy”. Google Tez is predicted to add support for card payments by integrating the technology of Google’s global mobile payment platform, Android Pay, by 2017.
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