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Google integrates SBI on its payment app ‘Tez’

Google Tez users can now create a SBI UPI ID on the app.

tech Updated: Feb 27, 2018 16:18 IST
Indo Asian News Service
Indo Asian News Service
Indo Asian News Service
Google Tez,Google Tez SBI,Google Tez SBI integration
Google claims to have 13.5 monthly active users on its payment app ‘Tez’.(Google)

Google on Tuesday announced the integration of State Bank of India (SBI) on its digital payment app Tez. Google Tez users can now create a SBI UPI ID -- @oksbi on the app.

Launched in September last year, Google Tez claims to have processed over 250 million transactions till date and has over 13.5 million monthly active users across the country.

“This partnership with Google Tez will drive innovation and deliver exciting new opportunities for our 40 crore plus customer base,” Rajnish Kumar, SBI Chairman, said in a statement.

Google Tez is built on the Unified Payments Interface (UPI), allowing users make payments from their bank accounts to other accounts from over 70 UPI-enabled banks.

“We are still in very early stages of building a vibrant digital payments ecosystem that brings together millions of smartphone users, small merchants, large businesses, and financial institutions. This partnership is an important step forward in that journey,” added Diana Layfield, Vice President, Head of Finance and Commerce Products, Next Billion Users at Google.

The app is available in English and seven other languages -- Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.

Google Tez had recently introduced payment of utility bills on its app. Google Tez users can pay bills of water, electricity, DTH and mobile from companies like Reliance Energy, BSES, and Dish TV. This feature comes without any transaction charges and will cover all major metros and cities.

First Published: Feb 27, 2018 13:10 IST