Google has announced the launch of its new India-centric UPI based mobile payments app, Tez. The search engine giant’s new app will let users link their smartphones to their bank accounts to pay for goods securely in physical and online stores, and for person-to-person money transfers.
Payments made straight from your bank account, big or small. Presenting #GoogleTez, money made simple. https://t.co/yb71ezw9Ol pic.twitter.com/Ywy6xJf2qj
— Tez by Google (@TezbyGoogle) September 18, 2017
The information portal of Tez reads
Send money home to your family, split a dinner bill with friends, or pay the neighbourhood [...]
There have been a couple of smartphone manufacturers in the news today regarding mobile payment services. Earlier today we reported that LG is working a mobile payment platform, and now Samsung is looking to introduce Samsung Pay in some other countries as well.
Samsung Pay uses NFC technology and Magnetic Secure Transmissions (MST). Since MST technology is used by every retailer that swipes a credit card, Samsung Pay can be used at more retailers than Apple Pay and Android Pay.
So far, Samsung Pay has been launched in Korea and the U.S. In Korea, Samsung Pay has seen $30 million in transactions, which is reason enough for the company to expand. Rumour has it [...]
With Apple Pay heading the mobile payment brigade we can soon expect hard cash to be a relic of the past. And joining this brigade is LG, who have confirmed their plan to launch a mobile payment platform next month. LG is also reportedly making major deals with some of South Korea’s biggest credit card companies before launching the service.
There is some speculation over whether the company will only use NFC or also MST which is Magnetic Secure Transmission, that is also used by Samsung. However, as of now there are no details on the official name of the product or the date of launch. We will just have to wait and see whether LG can carve a niche of its own in [...]