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Google to launch mobile payment service in India on Monday

Press Trust of India  |  New Delhi 

Tech giant Google will launch its payment app 'TEZ' on Monday as it seeks to in on the growing payment segment in the country.

Minister will launch this payment app on September 18 in Delhi, according to an official communication sent by the ministry.

In July, the National Payments Corporation of (NPCI) had said Google had completed the testing of its UPI payment service and was awaiting Reserve of India's approval to launch its service in the country.

Google has also sent out invites for the event to "share details on the launch of a new product developed grounds up for India".

Tech majors like WhatsApp and are also engaged in dialogue with the NPCI, a body set up to promote retail payment, UPI-enabled payment on their platforms.

UPI allows consumers to transfer money from one to another using a virtual address. There is no need of account number, IFSC code or MMID to carry out the transfer.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, September 16 2017. 17:13 IST