March 9: WhatsApp users were pleased when the payment option via WhatsApp was announced. But this dealt with a huge blow to the other payment applications. According to reports, in order to build a competitive advantage over Whatsapp’s payment feature, search giant Google has introduced chat option in its UPI based payment app Google Tez.
With the chat update, the Tez app will allow the users to converse with each other. A Google spokesperson was quoted by news sources as saying that the company has updated the application with a feature that allows the users to text each other regarding the transactions made.
Tez comes under Unified Payments Interface, developed by National Payment Corporation of India, and can be used were UPI payments are accepted.
As per the reports, within 10 weeks of its launch in India in December 2017, Tez recorded around 12 million users. Google’s Vice President of product management, Caesar Sengupta in December 2017 had made an announcement that the application registered more than 140 million transactions since its launch in September. He also said that the application, apart from contributing to 53 percent of all UPI transactions in October and 73 percent in November, also brought 5.25 lakh merchants on its platform.
Stating that the application is provided with a new feature in the form of a bill pay, he said the application will remind the users if a bill is due and to avoid the users from paying the bill twice the status will automatically be updated. Moreover, around 70 billers including utilities and direct to home service providers will be supported.
Last year, Paytm had introduced a chat feature similar to the one updated by Tez. Hike, the Indian grown messenger application, had also rolled out payment feature last year in order to develop digital transactions in India.