Google Tez bags 12 mn active users in 10 weeks

Global technology giant Google on Tuesday said that its mobile wallet app Tez, which was launched just 10 weeks back, has gained over 12 million active users. Ceaser Sengupta, VP Next Billion Users at Google, said that the mobile wallet has processed over 140 million transactions in a short span.

The company is planning to expand its services and has tied up with as many as 70 utility providers, including BSES and Dish TV, among others. The company plans to add more service providers and launch the service in the next few weeks. 

Taking on current market leaders such as Paytm, which has over 280 million overall users and provides a host of services via its wallet and Paytm Payments Bank, Google plans to add services for merchants and sellers to make the use of Tez more prevalent. 

"In 2018, we will add more services to Tez for merchants," Sengupta said. The company said Bhim UPI has seen a 16X growth from March to November thanks to Google Tez. "Tez accounts for 73 per cent of Bhim UPI transactions. We have tie-ups with Axis Bank, HDFC, ICICI, and SBI," Sengupta added.

Google has been on the fast track for making its wallet popular and has been giving massive cashbacks on each transaction. The company is following its competitors and using the cashback route to gain users.   

The company is on the fast track to make its wallet more user-friendly. It is also planning to add an additional number of smaller merchants and sellers so that the wallets can be used at places ranging from mom and pop stores to mega malls.