Google’s digital payment app 'Tez' launched

Finance Minister Arun Jaitley has launched Google’s Unified Payments Interface (UPI)-based digital payment service called ‘Tez’.  The new digital payments app is expected to make a major change in the digital payments landscape in India. It would support several local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.

Updated: Sep 19, 2017 09:05 IST
Arun Jaitley launches Google’s digital payment app Tez
Arun Jaitley launches Google’s digital payment app Tez

Finance Minister Arun Jaitley on 18 September 2017 launched Google’s Unified Payments Interface (UPI)-based digital payment service called ‘Tez’ in New Delhi.

With this move, the search giant has become the latest international giant to enter the fast-growing digital payments space in India.

Speaking on the occasion, Arun Jaitley said, Google team saw great potential in the remonetisation period after the demonetization. The minister stated that the need for finding an alternative to cash was never at centre stage in India's economic agenda.

He further expressed confidence that what had started as a compulsion for digitisation post-demonetisation will soon turn into convenience with the launch of Tez.

CA eBook

Key Highlights

• The new digital payments app is expected to make a major change in the digital payments landscape in India.

• It would support several local languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.

• The Google payment App is powered by UPI, a payments protocol built by the Government-backed National Payments Corporation of India (NPCI).

• The word Tez means fast in Hindi.

• The Finance Minister himself conducted the first transaction on the app.

The app’s launch puts it in direct competition with the popular mobile wallet provider in India, Paytm, which is backed by Softbank and Alibaba.

GSTN reopens window for composition scheme for small traders

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS
Read the latest Current Affairs updates and download the Monthly Current Affairs PDF for UPSC, SSC, Banking and all Govt & State level Competitive exams here.

Monthly Current Affairs PDF

  • Current Affairs PDF June 2022
  • Current Affairs PDF May 2022
  • Current Affairs PDF April 2022
  • Current Affairs PDF March 2022
  • Current Affairs PDF February 2022
  • Current Affairs PDF January 2022
View all

Monthly Current Affairs Quiz PDF

  • Current Affairs Quiz PDF June 2022
  • Current Affairs Quiz PDF May 2022
  • Current Affairs Quiz PDF April 2022
  • Current Affairs Quiz PDF March 2022
  • Current Affairs Quiz PDF February 2022
  • Current Affairs Quiz PDF January 2022
View all
Comment (0)

Post Comment

4 + 9 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.
    Whatsapp IconGet Updates

    Just Now