NEW DELHI: Internet giant Google on Monday forayed into the crowded but promising space of payment solutions in the country with the launch of its 'Tez' application. Google has partnered with four banks -Axis Bank, HDFC Bank ICICI Bank and State Bank of India ( SBI ) - for the solution. While they will be exclusive platform partners, Tez will work with all 55 banks who are on the UPI platform, Google said. Tez, which was being tested for some time now, already has 50,000 users who have processed 16,000 transactions worth Rs 11 lakh. The list includes ecommerce majors Amazon and Flipkart and taxi aggregator Uber that recently launched UPI payments through its app.

Source: Economic Times September 19, 2017 03:45 UTC