State Bank of India (SBI), nation’s largest bank has tied up with Google for its UPI based based application Tez that was launched few days ago. SBI is now gearing up to enable UPI across multitude of services including e-commerce and m-commerce merchants, toll payment, fuel stations, petrol pumps, malls, metro stations, railways and airports etc.
This application will give all functionalities accessible in UPI as a packaged choice for clients and vendors on Android and iOS stage for doing business (P2M) and in addition individual (P2P) exchanges through portable confirmed with a secured UPI PIN. Client needs to locally available through a Google login and mobile number linked to any bank account.
Tez UPI stage will be guided by NPCI rules and will consolidate all new form refreshes like planned installments, and so on.
Mr. Rajnish Kumar, MD (NBG), SBI stated, “While we are now empowering UPI over a large number of administrations including E-commerce and M-commerce websites, joint effort with Google will help us in giving a further push to our advanced activities. By working with Tez, we will help drive adoption of UPI and bring simple, safe and secure digital payments to more Indians citizens”.
Diana Layfield, Vice President, Head of Finance and Commerce Products, Next Billion Users stated, “We anticipate have India’s biggest bank, the State Bank of India, as a dispatch band together with us to coordinate UPI into Tez. This will offer simple and secure payment options for online and offline payments to even more Indian users and merchants. This is only the start of our partnership as we strive to digitize payments”.