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.