Mumbai: State Bank of India (SBI), country’s largest commercial bank has tied up with Google for its UPI based payment app Tez that was launched today. 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 etc.
This app will provide all functionalities available in UPI as a bundled option for customers and merchants on Android and iOS platform for doing commercial (P2M) as well as personal (P2P) transactions through mobile authenticated with a secured UPI PIN. Customer has to onboard through a Google login and mobile number linked to any bank account.
Tez UPI platform will be guided by NPCI guidelines and will incorporate all new version updates like scheduled payments, etc.
Mr. Rajnish Kumar, MD (NBG), SBI said, “While we are already enabling UPI across a multitude of services including e-commerce and m-commerce, collaboration with Google will help us in giving a further push to our digital initiatives. By working with Tez, we will help drive adoption of UPI and bring simple and secure digital payments to more Indians”.
Diana Layfield, Vice President, Head of Finance & Commerce Products, Next Billion Users said, “We look forward to have India’s largest bank, the State Bank of India, as a launch partner with us to integrate UPI into Tez. This will help 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”.
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