Getting on the digital payments bandwagon in India, Google has announced to launch a similar service in the country. Touted as Tez, the service will be introduced by next week, reports a domestic news website, The Ken.
Tez, which means fast in India, will be supporting the government’s payment service called Unified Payments Interface and other consumer payment services including Paytm and Mobikwik. Also, it will offer a comprehensive set of payment options beyond existing products like Google Wallet or Android Pay, claims the website.
The demand of digital payments in India increased especially after demonetization. Digital platforms like Paytm saw a huge rise in the number of users and became the country’s largest mobile payment service provider with over 150 million wallets and 75 million Android based app downloads post demonetization. The government also launched the BHIM app to promote cashless transactions in the country.