Money & Banking

Google ties up with SBI for mobile payments app Tez

Priyanka Pani Mumbai | Updated on February 27, 2018 Published on February 27, 2018

Internet giant Google has tied up with State Bank of India (SBI) for its mobile payments app Tez. Through this partnership, Google Tez will allow users to create an SBI UPI Id - @oksbi and get access to exclusive offers for SBI customers. The partnership will focus on building unique propositions for users and merchants, including specially curated offers.

Rajnish Kumar, Chairman, SBI said “We are committed to creating an enabling environment to promote digital payments for more Indians. We already have a multitude of services, including e-commerce and m-commerce, and this partnership with Google Tez will drive innovation and deliver exciting new opportunities for our 40-crore-plus customer base. Our shared commitment to excellence in customer service and bringing simple and secure payments for all will boost adoption of UPI and is a significant step forward in the digitisation of cash.”

Diana Layfield, Vice-President, Head of Finance & Commerce Products, Next Billion Users, said, “We are excited about the growth of Tez and our partnership with State Bank of India. We’re delighted to be working together to build unique propositions for users and create innovative solutions for merchants to go digital. We are still in the early stages of building a vibrant digital payments ecosystem that brings together millions of smartphone users, small merchants, large businesses, and financial institutions. This is an important step forward in that journey.”

Tez, since its launch in September 2017, has processed over 250 million transactions and has over 13.5 million monthly active users across India, from the major cities to Kashmir and Kanyakumari.

Tez is built on the Indian government-supported Unified Payments Interface (UPI), allowing users to make big or small payments free of charge, straight from their bank accounts to the accounts of others from over 70 UPI-enabled banks. The app was built for India, working on the vast majority of the country’s smartphones and is available in English and seven Indian languages (Hindi, Bengali, Gujrati, Kannada, Marathi, Tamil, and Telugu).

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Published on February 27, 2018
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