Google's Tez fires up UPI transactions in October

Google's entry into the Indian payment space has fired up the Unified Payments Interface platform -Bhim app. The UPI-enabled payment app Tez, launched by Google in September 2017, has grabbed 67% market share in terms of transactions for the month of October 2017.

7.5 million Android users -who have downloaded the Tez app -have been making trial transactions sending small amounts to each other. Google has been offering cashbacks and incentives for referrals which has encouraged transactions. With Whatsapp's UPI integration around the corner, the account-to-account transfer platform will get an additional boost.

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