After Uber, Truecaller, and WhatsApp, Google is the latest tech giant on a global sphere, to start a localized digital payment app in India. As per the reports from an India based news site, this initiative by Google is mainly an attempt to focus on India’s digital payment scenario and is expected to roll out by next week.
This initiative named as ‘Tez’, meaning fast in India, is formed in a way to provide a comprehensive set of payment options, which can also be denoted as a more modified innovation than the Google Wallet or Android Pay. The good part of the story remains that this new payment service will also support Unified Payments Interface(UPI) i.e. the payments system backed by the government and the other consumer payment services like Paytm and MobiKwik.
Is it really a dedicated app?
Google has declined to place any kind on this. Of course, this is a big venture by Google of payments outside the US and even with the presence of a strong customer base in India, not much of a revenue can be fetched back home.
Another part of the news also states about this latest innovating drawing the attention of tech companies like Flipkart, WhatsApp, and TrueCaller, which have already started making a move or are already in the process. But also a fact remains that a more concrete product, blended with its reach through consumer services and Android- India’s dominant operating system for smartphones, can anytime dethrone Google.
Apart from information provided by sources, The Ken dug up government filings have also given indications of Google planning to release a product named Tez in India. In addition, and rather interestingly, it is actually providing hints that there could be international expansion plans, too, since the search giant has registered trademarks for Tez in at least Indonesia and the Philippines.
Google has spent significant resources developing its services in India and more recently has started this process in Southeast Asia via its Next Billion Users (NBU) program. That includes free public/train station Wi-Fi, a data-optimized version of YouTube, and the Android One and Android Go operating systems for affordable devices. It also made talent acquisitions in India and Singapore to develop its NBU teams and sharpen local tech chops.