Google Plans To Expand Tez outside India in Near Future
Technology giant Google announced on April 3, 2018, that it will be expanding its payment system Google Tez to shortlisted emerging countries in Asia
UPI payment app of Goggle, Tez which was launched in September 2017 is competing with mobile payment giants such as Alibaba and Paytm. It operates by connecting user’s bank account and works with the United Payments Interface, so it integrates with any bank in the region that supports UPI. In addition to sending money, there’s Tez Shield, an always-active security feature designed to prevent fraud or hacking. The app has around 14 million users in India. Now the company plans to explore new markets depending upon conversations progress in the next few months, according to the company.
Furthermore, the company revealed that they initially looked across Latin America, the Middle East and Africa, the markets identified by the next billion user’s initiative. Economies with low credit card penetration and limited access to near-field communications systems are the most lucrative markets to the company. Recently, company integrated chat option in the Google Tez application and is slowly rolling it out to its 13.5 million active users, taking the competition directly to WhatsApp. The payment application operates on the Unified Payments Interface railroads and now it will allow consumers to not only send money to each other but also open up an option for conversation around the transaction.
You may be interested
Eight Hours Sleep Duration Linked to Cardiovascular RiskMohit Joshi - January 3, 2019
News study revealed that sleeping for ten hours may elevate risk of mortality by 30% as compared to sleeping for seven hours Researchers from Keele University conducted…
Tax Deductions and Credits Can Take a Chunk of Money Off Your Tax BillPareesh Phulkar - January 2, 2019
When you’re climbing uphill on a mountain of owed taxes, you may easily panic. However, it might not be as scary as it might initially look. As…
Claim your Child and Dependent Care Tax Credit Today with H&R Block 2019Pareesh Phulkar - January 2, 2019
Paying for child care or adult dependent care is one of the costly monthly expenses many families face. But without care, your children can't leave home to…