Google Tez Gets 4 Lakh Active Users In Just 24 Hours

Google launched its digital payment app called Tez in India which received about 1.8 crore Gross Merchandise Volume or GMV within 24 hours of its launch. The Google app is specially built for India and saw over four lakh active users on the day one of the apps. A Google’s spokesperson told IANS on Tuesday that, “In the past 24 hours, 1.8 Crore GMV done on Tez already with 410,000 active users.” GMV is the term used for the total value of merchandise sold over a specific period of time.

Google Tez is made from the Indian government-supported Unified Payments Interface (UPI). The USP of this app that it always its users to make any kind of payment, whether small or big directly through their bank accounts without any charges unlike any of the competing apps. Moreover, the app is available in English and seven Indian languages including Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil, and Telugu.

The app works in partnership with India’s four biggest banks – State Bank of India, Axis Bank, HDFC Bank, and ICICI Bank. This will enable the Google app in facilitating the processing of payments across over 50 UPI-enabled banks.The Google app was launched by the Finance Minister Arun Jaitley in the Capital on Monday where he mentioned that the idea of Tex was discussed by Google’s India-born CEO Sundar Pichai in January, just after demonetization. The Minister further added that Google’s new digital payments app is likely to make major advances in the digital transaction volumes in the next few months.

The Google app was launched by the Finance Minister Arun Jaitley in the Capital on Monday where he mentioned that the idea of Tex was discussed by Google’s India-born CEO Sundar Pichai in January, just after demonetization. The Minister further added that Google’s new digital payments app is likely to make major advances in the digital transaction volumes in the next few months.

The company also announced Google Tez for Business which promises to offer businesses new ways to unlock the potential of digital pavements and engage their customers.

Google Tez might be a game-changer in the Indian mobile wallet industry. If the company keeps its app free of charge and builds a safe and secure transaction process then surely Google Tez will revolutionize the digital wallet scene in India. The app has undeniably received a great start.