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Google Tez payments app is here, but for those wondering what the app is all about, this is not a version of Android Pay. In fact, Google Tez would be closer to the BHIM app, launched by National Payments Corporation of India (NPCI) if one were to look at just the basic functions of the app. Just like BHIM, Google Tez app allows for payments directly to the bank account, and all one needs is the UPI id or mobile number of the user. But unlike BHIM app, there’s no Aadhaar verification here.
Tez has something extra with AudioQR sharing option directly from phone to phone. Google will also let businesses use Tez to get payments from customers. So what is Google Tez app really all about? We answer some of the questions around this.
Is Google Tez like Android Pay or Paytm or MobiKwik?
As Google says Tez is payment app made first in India and designed for this market. But this is not a version of Android Pay, nor it is like the regular mobile wallet apps, such as Paytm or MobiKwik. Just like in BHIM, the payments made or received are directly debited from the bank account itself. Tez payment app relies on the UPI platform using the VPA or Virtual Payee Address, which is created in the app.
Of course to use Tez, one will need a bank account where the bank itself has gone on UPI. So far the list is pretty comprehensive and most major banks are supporting the platform. The difference between Tez and Paytm, MobiKwik which are mobile wallets is that the latter need regular top-ups. One has to load money into them from the bank account. With Tez, there’s no such need.
Now Android Pay is similar to Apple Pay, Samsung Pay, etc where one can store their debit,credit card information, and then just hold the phone next to a compatible PoS machine (Point of Sale) to make the transaction. Once again the amount is debited from the card itself. Android Pay is not yet available in India, though Samsung Pay has already arrived. Google says the reason Tez does not support NFC (Near Field Communications) is because not all smartphones have the feature.
Does Google Tez app require Aadhaar card? Will it support Aadhaar-based payments as well?
No, Google Tez app is not yet asking for Aadhaar data and there’s no support for Aadhaar-based verification for now. However, BHIM app does allow for payments based on Aadhaar. Google’s terms of service do mention about Aadhaar data, though this is only in case the feature is added in the future. Google’s executives said the Aadhaar function is not yet compulsory on UPI platform, and they are still exploring the full legal implications of adding such a function.
What are the security features on Google Tez payment app?
Tez will require a user to either rely on the screen lock or a Google Pin every time they want to open the app. A UPI Pin is also needed to finalise and approve each transaction. Google calls the security on the app as ‘Tez Shield’, which doesn’t really mean much. But it does say the app will hunt for fraud, though doesn’t give details on how. It will also have a 24/7 customer care helpline for users. This can be accessed by going to Settings>Help & FeedBack and then choosing chat or call option. Customers also have option of reporting spam on the Tez app.
So what exactly does Google Tez do?
Google Tez will let users transfer money to friends, family and businesses supporting the platform. Since it relies on UPI the amount is debited directly from the account, which is synced with the app.
With UPI, the identifier is the mobile number and the bank account. One will need to use the same SIM, mobile number, which is linked to the particular bank account if they wish to use Tez for regular payments. Tez’s payments services are powered HDFC, Axis, Icici and SBI (coming soon), though all 55 banks which support UPI can be linked to the app.
So while Google has built the Tez platform on UPI app, the rules of NPCI still give the power of payment services to the banks, hence these banking partners. Users will require their debit card to set up the account. In order to complete a transaction, the UPI Pin needed, which users have to generate at the time of setting up the service.
Can one add multiple bank accounts to the Google Tez app?
Yes, it is possible to add multiple banks to Google Tez app. We could see the option of up to four bank accounts. Each account gets its own UPI id and users can choose which account will function as the primary one on the app. Users can check balance for the account from the Tez app as well. Each account will also require its own UPI Pin. Users can also long press on a bank and delete the account from the Tez app as well.
Is there a limit to how much money can be sent via Google Tez app?
Yes, one can send a maximum of Rs 50,000 in one transaction via the Google Tez app. In our case, the app did not allow for more zeros to be added after Rs 50,000.
What is the privacy policy for Google Tez? Does Google keep the bank account number, etc?
The Privacy Policy for Tez is the same as it for the rest of Google Product, so keep that in mind. A user’s Google account is also linked to the Tez one. Google will ask for information such as mobile number, bank name, credit/debit card, date of birth, etc. The terms of service also say Google may verify the registration information with a third-party to check for identity, accuracy of information given.
The relevant paragraph reads, “During the login/registration process or anytime thereafter, you may be asked to provide information such as your name, phone number, Payment Instrument information (including, but not limited, your bank name and bank account number, credit card/debit card details, if applicable), date of birth, and/or other registration information. We may verify your registration information with a Third Party Provider, as defined below. In some cases, we may ask you to send us additional information/documentation or to answer additional questions (before or after your Google Account on Tez has been activated) to help us verify your identity or the accuracy of the information you provided.”
It adds, “We may deny your use of the Tez Services, if we are unable to verify that the accuracy or completeness of the information and documentation you provided or we determine that you are not eligible to use Tez, pursuant to the Combined Tez Terms or the Payment Participant Rules.”
Also you need a Google account to use Tez, there’s no way to avoid this. The terms of service say, “If you do not already have a Google Account, you may register for one on Tez.. When you login to your Google Account on Tez, your Tez Services will be activated, subject to you accepting these Combined Tez Terms.”
The terms of service also make it clear Google will share information with Payment Participants or Third Party provider for the purpose of transactions or providing Tez services. Remember Tez is partnering with businesses, which will show you offers, information, etc. Some of these could be based on spending habits depending on how much one ends up using the app. If you’re not comfortable with sharing more data with Google’s Tez, there is always the option of closing the account from the settings itself.
So what’s revolutionary with Google Tez ?
On the surface of it, Google Tez doesn’t really offer anything dramatically different from an app like Bhim or PhonePe, etc which are also based on UPI. After all, UPI is a platform being used by multiple players, including the banks themselves which have incorporated this into their own mobile apps, mobile wallets etc. Banks like HDFC, ICICI are examples of this.
But Tez is also tying up with businesses and offering the option of making payments directly from the app itself. Then there’s the ‘Cash Mode’, which shares money with phones which are in proximity using AudioQR and without sharing mobile number, banking details, etc. Tez will also support credit cards, debit cards, e-wallets in the future. For now though, it would be fair to say that Google Tez joins the long list of apps riding the UPI party.
