As we all know that last year, NPCI launched a new payment method called Unified Payment Interface (UPI). Since then, many new apps have emerged that use UPI and the latest one being Tez from none other than Google.
The main advantage of UPI is that there is no need to disclose any of sender’s or receiver’s bank details, you just need their Virtual Payment Address (VPA) or mobile number. Now, let’s see how to set up and use Tez.
Note: Tez does not work on rooted android phones because of security issues.
When you first fire up the app, you need to login, add your bank account, set UPI pin (if you don’t have already) and allow some permissions. After you do the said above, you will land on the following homepage.
Now, if you want to make a normal payment via mobile number or VPA or QR code the tap on ‘New’. Simply scan or enter VPA/number, then enter amount, your UPI pin and the transaction is complete and that person will be added to the homepage to send money in future without the need to enter their details again.
What makes Tez so different from other apps is because of a feature called 'Cash Mode'. On your homepage, you see a big ‘T’ button. Tap it and swipe upwards if you are paying or swipe downwards if you’re receiving. Both the sender’s and receiver’s phone should be in close proximity for this to work. You will then see receiver’s name pop up on sender’s device and simply tap to pay.
What’s happening is what google calls 'Audio QR'.
According to Google, "Audio QR is the technology behind Cash Mode that uses sound to pair your device with another nearby device. You can make secure payments without exchanging any personal information. Audio QR works on almost every smartphone. All you need is a smartphone with a speaker and a microphone." [Source]
Basically, on the receiver’s device, the app generates a high frequency ultrasonic sound impulse through the loudspeaker that the sender’s device listens to it via its mic. Hence, both devices are paired easily. If you put the speaker close to your ear, you can hear a high pitch whining. It works only in close range (<1ft) similar to NFC although NFC has even less range and no extra hardware is required so that all smartphones can use this feature.
Regarding Audio QR’s security, Google has no official statements but Tez shield protects all users from any breach and its plain common sense that you won’t just simplytap and pay to a random stranger if their cash mode is set to receive. It’s just like using Mi Drop or SHAREit.
After using Tez for a week myself, I found the app to be very snappy although I faced some issues initially. Cash mode works as advertised and all my transactions were completed almost instantly. I also earned a few bucks from referrals and scratch cards. Tez is like Android Pay but for India as no need for NFC enabled phones and POS machines, it even has potential to replace wallet services like Paytm and even already many online websites have started to accept Tez for payment.
Download Tez Here
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