New app Google Tez launched for transfer of money in India

A new app has been launched and dedicated to country for transfer of money by bank account holders in India.Thus Google has entered into this new venture of Mobile money wallet in India. The National Payment corporation of India had already evolved a system for transfer of money through a system called Unified Payments Interface known popularly as UPI Interface.

You have to download this app and link it with your bank account. then you can transfer the money to any other user in India through this app. Previously a similar app called Bhim app is already in place which links to many bank accounts and user can transfer money to other users across India.

There is no need to transfer money to this wallet before you transfer money to other account and it is one of the major benefits. The money will remain in your bank account and you will be earning the interest on your money as before. The system will be secured one with need of authentication by use of OTP . So lets see how this app works according to Indian system.


The post New app Google Tez launched for transfer of money in India appeared first on General knowledge quiz | IAS preparation | GK India videos.

Source: GK

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