Sakramenta: Google will be launching its Unified Payments Interface (UPI)-based digital payment service called ‘Tez’ on September 18. Google has already started sent out the invites for an event in New Delhi.
The invite reads “As we continue to make strides in ensuring that our products continue to serve the needs of everyone, we invite you to a press conference to share details on the launch of a new product developed grounds up for India.”
‘Tez’ is expected to work similar to Android Pay. Facebook owned WhatsApp is already tipped to be working on the new payment method and join country’s budding digital payment market. The popular messaging platform is said to be in talks with the NPCI and a few banks to facilitate financial transactions via UPI.
Messaging platforms such as WeChat and Hike messenger already started supporting the UPI-based payment methods.
“We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year,” MeitY Secretary Aruna Sundararajan said.