Google Launches 'Tez' Mobile Payments Service in India for Android and iOS

[MacRumors]

Google today launched a new mobile payment app in India that allows users to connect their bank accounts directly to the service and employs ultrasound technology in lieu of an NFC chip to transfer money between devices.

Called Tez (Hindi for "fast"), Google's new payment platform links customers' bank accounts to Android and iOS via the Unified Payment Interface (UPI), a state-backed payments system. Google has partnered with State Bank of India, the country's biggest lender, HDFC Bank, ICICI Bank, and Axis Bank, with 55 banks in total said to be supporting the service across India.

Tez uses a technology called audio QR that allows mobile users to transfer cash between devices using an inaudible ultrasonic frequency to identify the payer and payee. The system works with any mobile device with a mic and speaker and the Tez app installed, and therefore doesn't require an NFC chip.

India is home to 300 million smartphone users, but most handsets in the country don't feature NFC, so Google's audio QR solution is being marketed as a secure mainstream alternative. Apart from typical mobile transactions to pay for everyday items, Google says small businesses can also use the app to accept payments into their bank accounts, with payments from mobile merchants supported, too.

According to Bloomberg, digital transactions have surged after the Indian Government banned high-value cash notes in 2016. Tez is available on both Android and iOS, and Google plans to release the app in other emerging countries including Vietnam, Indonesia, and Thailand. Apple has yet to launch Apple Pay in any of the aforementioned countries and is still negotiating with the Indian government about bringing its own mobile payment system to the country. Apple Pay Cash, Apple's peer-to-peer mobile payment feature, is set to launch in the U.S. with the official release iOS 11 this month.

Article Link: Google Launches 'Tez' Mobile Payments Service in India for Android and iOS

 

[Avieshek]

How many? Google Wallet>Android Pay & now Tez

That way, there would be one for China, one for North Korea, one in Russia, Bangladesh, Pakistan and eventually Mars. This will fuel the government's arrogance at abysmal levels. Google just aided a WeChat environment in India.

Google knows no self-esteem. Just hate Google.

 

[d5aqoëp]

How many wallet/pay apps in India?

Chillr/BHIM/Tez/PayTM/PhonePe/Airtel money/Jio Money plus each bank also has their own mobile wallet. LMAO seriously!

 

[Avieshek]

How many wallet/pay apps in India?

Chillr/BHIM/Tez/PayTM/PhonePe/Airtel money/Jio Money plus each bank also has their own mobile wallet. LMAO seriously!

Hail! dictator Modi

 

[Sedulous]

So it sends out audio and this is received by mic... yeah, seems very secure. "Hey, my bank account is XYZ, password ABC".

 

[fairuz]

So it sends out audio and this is received by mic... yeah, seems very secure. "Hey, my bank account is XYZ, password ABC".

Open wifi has the same problem, but it's a solved issue. There are ways to make this cryptographically secure. You do a public key exchange then encrypt everything afterwards.
[doublepost=1505754844][/doublepost]The ultrasound thing sounds cool, but IDK why they use it instead of NFC.
[doublepost=1505754918][/doublepost]

How many? Google Wallet>Android Pay & now Tez

That way, there would be one for China, one for North Korea, one in Russia, Bangladesh, Pakistan and eventually Mars. This will fuel the government's arrogance at abysmal levels. Google just aided a WeChat environment in India.

Google knows no self-esteem. Just hate Google.

I also avoid Google because they never focus on anything, but to be fair, payment systems are a case where you really just have to try repeatedly until something sticks.

 

[Sedulous]

Open wifi has the same problem, but it's a solved issue. There are ways to make this cryptographically secure. You do a public key exchange then encrypt everything afterwards.
[doublepost=1505754844][/doublepost]The ultrasound thing sounds cool, but IDK why they use it instead of NFC.
[doublepost=1505754918][/doublepost]
I also avoid Google because they never focus on anything, but to be fair, payment systems are a case where you really just have to try repeatedly until something sticks.

There is a huge difference between sniffing packets on the same network and openly audibly broadcasting banking information.

 

[Avieshek]

There is a huge difference between sniffing packets on the same network and openly audibly broadcasting banking information.

A big tchnological Corporation is aware as well but Google has to bow & please.

 

[fairuz]

There is a huge difference between sniffing packets on the same network and openly audibly broadcasting banking information.

What's the difference? On wifi, you openly broadcast banking information, just with light instead of sound. Any legitimate banking site will use SSL encryption.

 

[Sedulous]

What's the difference? On wifi, you openly broadcast banking information, just with light instead of sound. Any legitimate banking site will use SSL encryption.

It would be fairly bold and unwise to do banking on public wifi... precisely because data can be intercepted and decrypted. Not sure why this should be confusing.

 

[fairuz]

It would be fairly bold and unwise to do banking on public wifi... precisely because data can be intercepted and decrypted. Not sure why this should be confusing.

Many people have no choice. Well, it can't be decrypted, is the thing. That's what TLS is supposed to guarantee. Sure you run the risk of there being bugs in your TLS implementation, but there could just as easily be vulnerability in the wifi encryption on a private network. And even on a private network, you shouldn't assume your data is safe all the way along the network. The crypto is supposed to be done on the ends.

 

[Sedulous]

Many people have no choice. Well, it can't be decrypted, is the thing. That's the whole point of TLS (I said SSL earlier mistakenly). Sure you run the risk of there being vulnerabilities in your TLS implementation, but there could just as easily be vulnerability in the wifi encryption on a private network. And even on a private network, you shouldn't assume your data is safe all the way along the network. The crypto is supposed to be done on the ends.

I am not getting in to the details here. Public wifi without password is a gaping hole in security. Even if you are connected to https, there are tools to get around that too if you are on the same network... or worse yet, audibly broadcasting data. Why are you even debating this?

 

[fairuz]

I am not getting in to the details here. Public wifi without password is a gaping hole in security. Even if you are connected to https, there are tools to get around that too if you are on the same network... or worse yet, audibly broadcasting data. Why are you even debating this?

I'm debating this because there aren't those tools. You can't just simply "crack" HTTPS, and if you could, there'd be no point in using it. Wifi encryption is less secure if anything. If you're thinking about those MitM attacks people use to look at things like private APIs, that's something you can only do with your own device since it requires you to install a custom root certificate.

 

[Aniruddh]

Hail! dictator Modi

What does this has to do with Modi? This is nothing but mistargeted anger.

 

[kdarling]

The ultrasound thing sounds cool, but IDK why they use it instead of NFC.

For the same reason why airlines use visual QR codes for boarding passes... they chose a method that works on far more devices, as compared to the number with NFC.