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Google to launch UPI enabled payment service called Tez in India

Looks like Google is launching a mobile payment service called Google Tez in India next week. The Ken (paywall) was the first to report this development. The report mentions that Google will be integrating third-party wallets like Paytm and Mobikwik on the platform, and that the service will be available for the desktop and as a Chrome widget, besides an app. We checked the Controller General of Patent, Design and Trade Marks' website and found a Wordmark application for 'Tez' filed by Google Inc. on June 27, 2017. The description of this service details the following: Financial affairs; monetary affairs; electronic funds transfer; financial transaction services; provision of electronic contactless payment services; financial transaction services, namely, providing secure commercial transactions and payment options using a mobile device; electronic credit card transaction processing, debit card services, pre-paid purchase card services, namely, processing electronic payments made through prepaid cards, processing electronic payment through pre-paid cards, and processing electronic payments made through loyalty cards; electronic payment, namely, electronic processing and transmission of credit card transactions, wireless wallets, mobile wallets, electronic wallets, wireless credit, debit and pre-paid card transactions; credit card and transaction processing terminal services using near field communication (NFC) technology In July this year, National Payments Corporation of India (NPCI) MD and CEO AP Hota had confirmed that NPCI had forwarded Google's Unified Payment Interface (UPI) enabled payment service plan to the Reserve Bank of India (RBI) for approval. It's not clear if Google has now received approval from RBI or not. We had…

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