Published Article Details

How to make payments using Google's Tez app

Posted by: Girija Gadre on Oct 02, 2017, 12.57 PM IST

Google has launched their mobile payment application, Tez, which works on the Unified Payment Interface. This application makes it easy to make payments to third parties, or receive money with a few taps on one's mobile phone, without divulging your account details or mobile number.

Download the app
The Tez application can be downloaded from the Apple IOS or the Google Play store.

Add registered mobile number
One of the prerequisites for this application to work is that the mobile number to be registered on the app should be the same as the number that is registered with the bank account.

Create a Google PIN
A four-digit google PIN needs to be set up for the application to work.

Add a bank account
Choose your bank from the list. A secure message will then be sent from the registered mobile number and your bank account details will be captured. Next, enter the last 6 digits of your debit card number and the expiry date of the card. Finally, entering the OTP sent to you by the bank.

Making payments
To make a payment, enter the payee and payment amount, as well as a brief description of the transaction. Enter the MPIN to authorise the payment.

Cash mode
The person to whom the payment is to be made through cash mode should also have the Tez app installed. They also need to be in your vicinity, and activate 'Receive' mode on their app. The payee need not be a saved contact on your phone. You just need to enter the amount to be transferred and the reason for transfer.

Points to note
1. To know which of your contacts have installed Tez app on their phone, allow the app to access your contact list.
2. The app does not create an online wallet that you can top up for payments. Payments and receipts are made directly through your bank account.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
This article appeared in Economic Times dated Oct 02, 2017, 12.57 PM IST

Online Courses

Capital Markets
Basic Level
BANKING AND CAPITAL MARKETS

Get the training you need to work in the Banking and Capital Markets industry through this intensive course

Capital Markets
Basic Level
SECURITIES AND OPERATIONS PREPARATORY

This NISM preparatory training is designed to help students whowant to take the securities and operation ex

Capital Markets
Basic Level
DEBT INSTRUMENTS - BASICS

Get a complete understanding of debt instruments in India. This course is ideal for professionals who want

Capital Markets
Basic Level
EQUITY MARKETS BASICS

More people in India are investing in equities and shares creating a need for more skilled equity managers

Capital Markets
Advance Level
EQUITY LINKED STRUCTURED PRODUCTS

Structured products are used to introduce tailor-made investment options in the world of finance. Our cours

Capital Markets
Advance Level
DEBT INDICATORS

What factors affect the debt market? Learn all about debt market indicators to understand the world o

Capital Markets
Advance Level
DEBT MARKET ANALYTICS

Need help to understand the bond market? This bond valuation course simplifies debt bonds, bond yield

Capital Markets
Intermediate Level
CREDIT RATING

Poor credit ratings indicate risky investment opportunities. Learn about the concept of credit rating, its

Capital Markets
Advance Level
EQUITY VALUATION PRINICIPLES

Learn the different principles of equity valuation along with their real world applications.

Capital Markets
Advance Level
EQUITY MARKET INDICATORS

Reinforce your stock market basics by learning about equity market indicators through our online course.

Capital Markets
Advance Level
DEBT MARKETS LEVEL - 2

Understand the structure of debt capital markets and the structure of its primary and secondary markets.

Capital Markets
Advance Level
EQUITY MARKETS -II

Learn advanced methods of fundamental and technical analyses of financial statements in capital markets.

Other Financial products
Basic Level
BANKING AND SAVING PRODUCTS

Banking is a highly respectable career choice in India today. It is a growing sector which translates into

Other Financial products
Basic Level
DEPOSITS AND BONDS

The bond market is considered to be one of the safer avenues for investment, providing reliable and consist

Other Financial products
Advance Level
ALTERNATE ASSETS - COMMODITIES AS AN ASSET CLASS

Understand commodities as alternate assets for investing and their different types through our course.

Other Financial products
Basic Level
PERSONAL LOAN AND BUSINESS LOAN

Learn the working behind the process of issuing unsecured business and personal loans from our basic course

Other Financial products
Advance Level
BILL DISCOUNTING AND SUPPLY CHAIN FINANCING

Learn what bill discounting and supply chain financing is and its different features with our online course

Other Financial products
Intermediate Level
INTEREST MARGIN AND LENDING PROCESS

Learn how lenders make pricing and margin decisions during the corporate lending process through our course

Other Financial products
Advance Level
COMMODITIES TRADING

Learn the basics of commodity trading along with how commodity markets function via our beginner's course.<

Other Financial products
Basic Level
MORTGAGE FINANCE

Understand the need for mortgage finance along with the need, EMIs, pricing factors and repayment options.

Other Financial products
Intermediate Level
MATHEMATICS OF LENDING

Understand the concept of impaired loans and the mathematics behind lending through this online course.

Other Financial products
Advance Level
PORTFOLIO MANAGEMENT SERVICES - 1

Learn about the structure, features, operational aspects and positioning of the products on the PMS platfor

Other Financial products
Advance Level
PORTFOLIO MANAGEMENT SERVICES - 2

Learn how to construct individual portfolios and analyse risk and performance to meet investment objectives

Other Financial products
Intermediate Level
LEASE FINANCE & FUNDING

Understand the benefits of leasing assets and different types of lease finance options through our online c

Other Financial products
Intermediate Level
LOAN AGAINST SECURITIES AND INSURANCE

The course guides you to understand its types, eligibility, margins and pricing on loanagainst securities a