Google, Alphabet Inc’s subsidiary, is most likely to announce its Unified Payments Interface(UPI) based solution application Tez(means fast in Hindi) for India on September, 18. The application may also support other payment services including Paytm and MobiKwik, according to the report of The Ken, news site.
To develop UPI payment service Google is working with the National Payment Corporation of India, and have been waiting for launch approval by Reserve Bank of India from past few months.
India is considered as the world’s second-largest smartphone market, with a maximum percentage of android users, and introducing Tez in India will give the company a huge base of potential customers. It is expected, that Google’s new payment solution willbe back into its existing payment service, Android pay.
Facebook owned company WhatsApp is also working on integrating payment through UPI in India. However, reports say, Facebook and Whatsapp are still some time away from developing a way for customers to pay through chat option.
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