How Google’s app – Tez is different from any other payment app in India?

By now you might have heard of Tez – a payment app developed by Google for India. Even If you haven’t heard of it, don’t worry keep-on reading further to understand what it is and how it’s underlying piece of tech is different from other payment leader apps in India.

Image Source: Google

Majority of the payment app in India operate using mobile number, punch in the 10  digit cell number in the payment app and you can pay the required amount to seller/user.Lets consider the nation wide popular payment app – Paytm, to make a payment to any seller you just have to either scan the QR code of seller or use his mobile number and payment can be made instantly. Privacy is taking a hit in these kind of payment solution as one has to share his/her number with third person to receive payment without any choice.

Keeping this in mind, Google came up with their own technology to transfer money without feeding any required information and it’s called as ‘Audio QR’.

Audio QR: With this tech, data transfer can be done using audio between two devices.Ultrasonic sound is utilized to transfer data which won’t be audible to human’s ear.

Best part of this tech is, any phone which has a microphone & speaker (can’t recollect any phone without these 😉) can run this app for payment.

How Tez works:
It operate using Unified Payment Interface (UPI) to transfer money from one’s bank account to another instantly. It provide multiple ways to transfer money using Bank Account number, Phone number, UPI Id and Cash mode option. For all modes of transfer, it utilize the same UPI platform. Audio QR tech is utilized in the cash mode option were user is willing to pay/receive money in his vicinity.

To make payment at tea stall or grocery store, all you have to do is tap on the ‘Cash Mode’ option and slide the button to ‘Pay’ and seller near you having cash mode option set to ‘Receive’ will be visible on your phone. Select the seller and punch-in the amount to be paid, this will transfer money immediately to seller’s bank account using UPI.

Communication between two phones in ‘Cash Mode’ happens by sending encoded data via ultrasonic audio from payer’s phone and receiving the same on payee’s phone, encoded data has all the required information to make payment possible without sharing any private details like – Bank account number, Phone number etc.
Every transaction is secured with your UPI PIN and the app is secured with a Google PIN or your screen lock method such as fingerprint.

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