Google has announced a deeper integration with State Bank of India (SBI) for its mobile payments app Tez. The integration will allow Tez users to now create a SBI UPI Id - @oksbi and get access to exclusive offers for SBI customers.
At a meeting held to announce this, State Bank of India, Chairman Rajnish Kumar, also spoke about the potential of the digital payments industry and outlined a strategic intent by both SBI and Google's Tez to work towards a wider adoption of digital payments. The two will focus on building unique propositions for users and merchants including specially curated offers.
Tez, since its launch in September 2017, has processed over 250 million transactions and has over 13.5 million monthly active users, across India, from the major cities to Kashmir and Kanyakumari.
Tez is built on the Indian government-supported Unified Payments Interface (UPI), allowing users, free of charge, to make small or big payments straight from their bank accounts to the accounts of others from over 70 UPI enabled banks. The app was built for India, working on the vast majority of the country's smartphones and available in English and seven Indian languages (Hindi, Bengali, Gujrati, Kannada, Marathi, Tamil, and Telugu).
Google also rolled out a new bill payment feature for Tez. Back in December, Google announced that it was working on something new for Tez, but now since it's out we have a clear picture of how exactly the new feature will function. To add a new bill, users just have to go to the New Payment tab and tap on Pay your bills option. The app will then provide you with a list of over 80 billers to choose and add your account info and start making payments instantly.
The app will also push notifications as a new bill comes in. To make it further simpler, the app will keep track of your previous payments wherein you can check which bills have been paid already. The bill payments made are categorized by each billed and users can set up bill payments for multiple accounts. Google is also giving away scratch cards where users can win up to Rs 1,000 for each biller they add to Tez during February.