Google launches digital payments service for India

Bangalore

ALPHABET Inc's Google introduced a digital payments service specifically designed for India as competition heats up for the country's billion-plus potential users.

Tez, the Hindi word for fast, debuted on Monday for download on iPhones and Android devices and joins an increasingly crowded field. The service is compatible with the Indian government-backed Unified Payments Interface, which simplifies financial transactions and transfers of money between banks. Users can pay directly from their accounts at major domestic banks including the State Bank of India, and transfer money to fellow Tez users without sharing personal details, Google said in a statement.