Tez: Arun Jaitley Launched This Digital Payment App Today

By Nithya Nair
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Finance Minister Arun Jaitley today expressed hope that digital payment is going to pick up momentum with more advanced technology coming into the market.

    A lot of people went in for digitisation in terms of mode of payment more out of compulsion rather than finding it a more convenient method to transact, but that compulsion created a habit for many, he said after the launch of a mobile app for digital payments developed by Google for India.

    "We reached a peak figure (after the demonetization), then it marginally slipped and is now bound to pick up again," he said. Google To Come Up With Google Tez- Its Payment Platform

    Tez: Arun Jaitley Launched This Digital Payment App Today

    Built on the government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts, Google said.

    The app was built for India, working on the vast majority of the country's smartphones, and is available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu).

    Tez, a Hindi word which means fast, works in partnership with four Banks -- Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India (SBI)- to facilitate the processing of payments across over 50 UPI-enabled banks.

    "Now, the time has come with the application as simple as this that what started as compulsion becomes a matter of convenience and eventually a matter of spending habit as far as Indian people are concerned," the finance minister noted. The app is available now for download on Google Play (Android) and the App Store (iOS).

    Read more about: payment arun jaitley google tez
    Story first published: Monday, September 18, 2017, 16:49 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more