Google's digital payment app 'Tez', which was launched in India on September 18, has been downloaded 5 million times over the Play Store. Within 24 hours of the start of 'fast', Google did approximately 18 million gross merchandise volume (GMV) with more than four million active users.
style="font-size: large;">Built on the Unified Payment Interface (UPI), supported by the Indian government, allows fast users to pay small or large payments directly from their bank account. According to the National Payment Corporation (NPCI), the number of transactions on the UPA in September has exceeded three crore.
The number of transactions on the UPA platform rose to 3.07 crore in September, which was 1.66 crore in August - an increase of 85.32 percent in 3.07 crore transactions, the share of BHIM was 76.03 lakh - about 24.7 percent of the market share.
In order to facilitate payment of more than 50 UPI-enabled banks, the "Tez" app works in partnership with four banks - Axis Bank, HDFC Bank, ICICI Bank and State Bank of India. The app was built for India, which was working on the vast majority of the country's smartphones and is available in English and seven Indian languages - Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu.
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