comscore Google Tez garners 7.5 million users, records over 30 million transactions: Sundar Pichai
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Google Tez garners 7.5 million users, records over 30 million transactions: Sundar Pichai

Google Tez was launched in India in September.

  • Published: October 30, 2017 3:48 PM IST
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It’s been over a month since Google Tez launched in India, and the app recently recorded 5 million downloads on Play Store. At Alphabet’s Q3 earnings call, the company announced the latest figures. Google CEO Sundar Pichai, when talking about Google’s revenue in Asian markets, highlighted what Google Tez has achieved so far. Pichai said that Google Tez now has 7.5 million users who have made over 30 million transactions on the app alone. Also Read - Apple adds UPI, RuPay, net banking on App Store: How to add new payment methods

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Within a span of five weeks, Google Tez has managed to garner quite impressive stats for a cash first market like India. Caesar Sengupta, VP of Product Management at Google further highlighted how UPI had a total of 16.6 million transactions in August, and Google Tez managed to garner over 30 million transactions in a month alone. Pichai also added, “I’m really excited about the potential this brings for India’s mostly cash-based economy.”

https://twitter.com/caesars/status/924183090397716480

Sengupta also answered queries regarding the huge spike in UPI transactions. Firstly, he said that UPI transactions are on Google Tez alone, and not as a whole. In addition to this, he also said that these transactions include P2P (person to person), cash mode and P2M (person to merchant), and does not count cash backs. ALSO READ: UPI transactions growing way faster than Aadhaar-based payments: Report

Google Tez allows users to transfer money, and make payments via Cash Mode and UPI. Using the ‘Nearby’ feature, you can send instant cash to anyone nearby without having to share your contact or even bank details. For this transaction process, both the smartphones need to be connected either via Bluetooth or Wi-Fi. Google Tez also supports UPI payment method, which is currently available in a host of major banks across India. You can use Google Tez to transfer money to any user with a UPI-supported bank account. Like Paytm, you can also use Google Tez to make payments at physical stores, and for online goods as well. RELATED: Google Tez: The latest UPI app in India launches with mobile wallet and payments service

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  • Published Date: October 30, 2017 3:48 PM IST



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