Indian Finance Minister Jaitley to launch Google payment app
Union Finance Minister Arun Jaitley will launch Google’s Unified Payments Interface (UPI)-based digital payment service in India called “Tez” on Monday.
“FM Shri @arunjaitley to launch the Google Digital Payment app ‘TEZ’ on Monday, 18th September, 2017 in the national capital,” the Finance Ministry confirmed in a tweet on Saturday.
UPI is a payment system launched by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform. The other big player to join India’s growing digital payment market is Facebookowned WhatsApp.