Google has launched a new, free mobile wallet in India called Tez, that allows greater privacy to those wanting to pay with a smartphone. Its new technology is Audio QR, which Google says will put it ahead of other mobile payment platforms.
Most mobile platforms now uses the technology called Near Field Communications (NFC) to have devices communicate when it proximity — it’s the technology that enables Apple Pay or Square. The Audio QR uses ultrasonic sounds to exchange the money, which lets any smartphone with a microphone be a payment reader, accepting or sending payments to any person.
Tez is free for person-to-person money transfer and for payments to small businesses. Its Cash Mode allows the user to send money instantly to another Tez user nearby without needing to share private details like your bank account or phone number.
Visit Tez on CabinetM.