Google Pay is one of the most popular UPI payments apps. This mobile app is simple and user-friendly. There is no distraction. Neither it pushes for the shopping. In this post, I would tell you about the features of this app. You would also learn how to send and receive money through Google Pay. What are the charges and limit of fund transfer? And above all whether Google Pay is safe or not?
I would also like to tell you that Google Pay is the new Name of Tez App. The Google has renamed Tez to make it global. Google has already a product named Google Pay. However, the Global Google Pay is still different from Google Pay India. I will use the term Google Pay and Tez both in this post.
- 1 Features of Google Play
- 2 How Can You Send Money Through Tez
- 3 How Can I Receive Money
- 4 Charges of Google Pay
- 5 Limit of Fund Transfer: How Much Can You Send?
- 6 Is Google Pay Safe
- 7 Google Pay Tasks
- 8 Is Google Pay Best App For Money transfer
- 9 Google Pay and Google Wallet are Same?
- 10 Google Pay Customer Care and Helpline
Features of Google Play
- The Google Pay app operates on the UPI Payment platform. There are many mobile apps which use UPI platform for payments.
- It transfers money from one bank account to another within India.
- The money transfer takes place immediately.
- The payment service is available 24 hours, all 365 days of the year.
- You can transfer money without giving the bank account details of the beneficiary. UPI ID and a mobile number would be enough for the fund transfer.
- This app gives you the facility to ask money from someone. The merchants can receive money instantly from their customers using this app.
- The Google Pay has an easier fund transfer system called ‘ Tez mode‘. You can use this feature to make payment to nearby people. It is just like Shareit or Bluetooth transfer.
- The UPI Payment is based on mobile numbers thus it is necessary to have a bank account linked mobile number. This also applies to Google Pay.
How Can You Send Money Through Tez
The Google Pay apps give you three option to enter a beneficiary for fund transfer. You can send money to a bank account using the mobile number, UPI ID or Bank account number. Of course, the easiest one is the mobile number. But before that, You have to Choose the beneficiary
Open the Google Pay App. Tap on ‘New’. You would find this option just beneath the Blue space.
After this, you have to enter the beneficiary detail. This can be his mobile number, UPI ID, QR code or Bank Account Number.
Method 1- Enter a beneficiary by Using Mobile Number
You would agree that payments to a mobile number is the most revolutionary things of fund transfer. It Often, we don’t require any extra effort to make a payment. Because of this method, the sending money is as easy as sending a message.
In fact, sending money to a mobile number is similar to sending a WhatsApp message. Just like WhatsApp, select the mobile number to send a message, you can also choose the number from your address book to send money. You can also send money to those number which is not registered in your contacts.
Now you have the Payment page of Google Pay. In this page, you can choose your desired contact. You can also enter a new mobile number to make payments. There are 3 ways to get a contact for sending money.
- It is the first option. You can search the contact just by typing the name in the search box.
- You can tap on the blue icon of Phone Number. Enter the number manually. This method should be used for a new contact.
- you can also browse your contacts who are using the Google Tez. Head in the second half of the screen and you would all of your contacts who use Google Tez.
Note- By using mobile number, You can send money only to those beneficiaries who use the Google Pay (Tez).
Method 2- Send Money Using Bank Account Number
To make a payment directly to a bank account number, you should have the bank account number and IFSC of the beneficiary.
To enter the bank details tap on Bank Account option with the blue icon.
In the dialogue box, you have to enter the bank account number and IFSC code.
Method 3- Send Money to UPI ID or QR Code
The UPI ID is a unique way of getting payments without revealing your bank account number or mobile number. UPI ID is a unique address to your bank account similar to the email address.
The QR code is also a graphical way of telling your account number. This code does not reveal your payment details to anyone. The only machine can decode it.
In the Payments Page of Google Pay, you can enter the UPI ID.
Tap the blue icon for entering UPI ID and QR code. In the coming dialogue box, you can choose either UPI or QR code. Now enter the UPI ID and verify it.
Steps To Make Payment
- Once, you select the beneficiary. You would see two options, Pay and request.
- You would also see a chat box. The chat feature is available only if your beneficiary also uses Google Pay (Tez)
- Tap on the Pay and enter the amount. The system also asks the reason for payment. You can leave the field blank and proceed to Pay.
- Now you are required to UPI PIN. This is the final authentication before making a payment. After entering the UPI PIN, you would not be able to stop payment.
How Can I Receive Money
The Google Pay also gives facility to request a payment. This feature is useful if you require money from someone. The person may have borrowed money from you or He/she is has purchased an item.
When you request money from someone, the Google Pay sends a notification to that person for making the payment. The person can immediately accept your request of payment by entering the UPI PIN.
To request money from someone, you should know his mobile number or UPI ID or Bank account number. The initial steps are same for sending and receiving money.
- You can choose the Payer by any of the three methods, given above.
- In the coming page, select the option of ‘Request’ instead of the ‘Pay’.
- Enter the Amount, reason and submit the ‘Request”
- The payer would see the notification and approve the payment by entering the UPI PIN
Charges of Google Pay
The Google Tez works on the UPI Platform. This platform is provided by the NPCI free of cost. Although, the banks are also involved in this whole process and they have the right to ask charges for this payment. But, since the launch of UPI no bank charges a paisa for the transaction. Even Google is not charging a paisa for using its Google Pay app.
Thus, until now Google Pay does not charge for making payments. The complete service is free of cost. But It does not mean that It would remain free forever. There can be some charges in the future but it should remain cheaper than NEFT and IMPS.
How Does Google Make Money From Google Pay
You may ask that if Google Pay is not charging from us then how does it makes money? In fact, Google is not making a money from this app, rather it is spending a heavy amount in its promotion. So what is the business model of Google Pay? There is no clear-cut answer to this as it is highly guarded. But I have some assumption
- By giving you this service, Google gets to know about you. It now knows your financial behaviour. This data can be helpful to the google for showing you the targeted advertisements while you browse the internet.
- The Google would charge to the businesses for giving them space at Google Pay.
- Further, It can also show ads.
- It can also sell financial products for a commission.
Limit of Fund Transfer: How Much Can You Send?
There are so many positives of Google Pay App. But Every good thing has some limitations. The Google pay also has a limit on fund transfer. There is a daily limit of Rs 1 lakh for UPI Payments. This limit is applicable across the UPI apps. The limit is set by the UPI Platform.
The Google Pay also has a limit on the frequency of Transactions. You can’t make more than 10 transactions in a day through the app. This limit is also set by the UPI Payment system on a bank account thus, the limit is aggregate for all the UPI apps.
Is Google Pay Safe
There are many people who want to know whether Google Pay (Tez) is safe or not. Their concern is genuine as cases of financial frauds are increasing day by day. I am not giving any verdict on the safety of Google Pay But I would tell you the safety features and vulnerability of this app.
- In the UPI Apps, the bank account number is not mandatory to get money. Rather you can use the UPI ID to send money. This feature is also available on Tez app.
- Google Pay app or any other UPI App can’t store your UPI PIN at their app or server. It is the NPCI which verifies the UPI PIN and approves the payment.
- The transfer takes place between the bank accounts which makes it safer.
- You have to enter the separate Google PIN to open the Google Pay App itself. In this regard, Paytm and Phonepe are less safe as it does not require any PIN to open the app.
- Google Pay has its own Google Shield protection to protect fraudulent transaction.
- The UPI PIN is only 4 digits simple number. Someone can easily pry that number.
- The Request feature is very useful to the merchants but it is used to cheat gullible users.
- Once, you enter the PIN, there is no way to get back or stop payment.
Learn More: How To Keep Google Pay Safer
Google Pay Tasks
I have listed 4 important tasks of Google Pay. You must know about them.
- It is your first task and every user goes through it. You must know that Google Pay app is only available for Android and iOs users.
- Download the Google Play from the Play store or App store.
- Install it and choose the language.
- Choose the security key For the app. You can select either Google PIN or Screen lock to Open the app.
- Add your bank account. You can add multiple bank accounts but there would be only one default account. That account would receive the money if anyone sends fund using your mobile number.
UPI PIN set and Reset
- If you have not already set the UPI PIN for a bank account, you have to set it before making any payment.
- Once you set a UPI PIN for an account, it works in every UPI apps for that account.
- To set the UPI PIN, you have to enter the last six digits of the debit card and expiry date of the debit card. You would get an OTP (one-time password), submit it as well.
Learn More: UPI PIN of the Google Pay
The Google Pay app gives you the facility to check bank balance as well. The process is simple.
- Open your Goole Pay app and go to the settings page.
- In the settings page, tap on the link of ‘ Bank Accounts’
- Just below the bank account number, you would see the option to check bank account balance.
- Tap on that link and enter the UPI PIN of the bank account. Once you enter the UPI PIN, the App would show the balance of your bank account.
Mechanism: How it Works
Google Pay uses UPI Platform to send and receive money. But it directly does not communicate with the UPI servers. Rather it goes through the bank. Only big banks can participate in UPI Transfers. Thus Google has taken services of SBI, ICICI, HDFC and Axis Bank.
When you send money to someone, The UPI system finds out the linked bank accounts on the basis of registered mobile number. There may be several bank accounts which are linked to your bank account. The linked primary bank account is used to debit the money. You have to also enter the UPI PIN for final approval.
But the money would be fetched only from that bank account which is marked as the default account. You have to enter the UPI PIN of that account to complete the process.
Similarly, when someone receives money, the UPI system finds out the bank account number using the given mobile number or UPI ID. The money goes to that bank account number.
Is Google Pay Best App For Money transfer
You would be aware that there are many payment apps in the market. There is intense competition among these apps. Particularly Paytm, Google Pay, Phonepe and BHIM are competing to acquire the new customers. Most of them are also giving cash-backs and offers. So, let us compare these apps on the parameters of simplicity, ease, features and cashbacks.
Google Pay Vs Paytm
Paytm is an old player and market leader. Even most of us use Paytm as it is widely accepted. It also used to give big cashback and discount for the use of its wallet. That is why it has become a household brand. It used to be very simple as well.
However, after the inclusion of shopping feature, it is no more simple. Today the interface is cluttered with scores of services, products and promotions. For the sake of promotions, it has added a futile step while you make payments.
Also, there may be confusion between Paytm Wallet payment and UPI payment. However, the payment service of the Paytm is still fastest. It has its own payment bank thus, UPI ID is generated with that suffix. Also, for the offers lover, the Paytm has a lot of the options.
On the other hand, Google Pay is still a pure payment app, thus there is far less clutter and a few steps. Overall, you would spend less time in comparison to the Paytm. But you would miss the numerous features of the Paytm. However, you would find many offers. The Google Pay offers are simple and with the least terms and conditions.
Google Pay Vs Phonepe
The other big player of the payment space is the Phonepe. It is promoted by the Flipkart. I personally like this app as there is less clutter than the Paytm but a lot of features. It is a payment app and works like that. There is no promotion for shopping. The UPI Payment is its first option and you can instantly use that to make payments.
The one negative of phonepe is the processing time. It takes more time to process the payment through the Phonepe. I have faced many failures if I recharge through Phonepe Using the UPI method.
On the other hand, Google Pay (Tez) is in the process of adding new features such as recharges and bill payments. It is really tez and does its job really fast. You have to Tez mode to transfer funds to nearby people.
Google Pay Vs BHIM
BHIM is the UPI app promoted by the Government. I was fond of its simplicity. In fact, It was BHIM which shower the way of simplicity to other payment apps. There is no distraction. It is a straightforward UPI Payment app. Later it has added the features of bill payment. But, you would not be able to recharge your mobile phone. However, there are many cashback and offers.
Google Pay also tried to keep its interface simple but, there is no match with the BHIM. In the Google Tez, the first page is mostly used by the Tez Mode feature. For other types of payments, you are required to scroll the screen. Whereas, BHIM requires least touches.
In the google pay, you have to understand its interface and search for the features. But BHIM is to the point and simple. If BHIM would have some more features, I would have loved it most.
Google Pay and Google Wallet are Same?
Often people ask whether Google Pay and Google Wallet are the same. The answer is yes and no both. For the global user, Google Pay is the Google Wallet. In the USA you can use the Google Wallet to make payments instead of the credit card.
But in India, The Google Pay has a different version. It is Google Pay (Tez). There is a separate mobile application for India. The Indian version does no keep your money in its wallet. Rather, money is transferred between the banks. Even the cashback is also directly credited to the account. Thus there is no google wallet facility for Indian Rupees.
The Paytm, Phonepe and Amazon Pay balance has its own wallet to make payments. You would know that wallets make payment easier as often it does not require a PIN for the authentication.
Google Pay Customer Care and Helpline
No system is perfect. There can be some glitches and technical problem with every payment app. The Google Pay user can also face some problem. These can be non-credit, Transaction failure and errors.
To deal with the problems, Google Pay has its own customer support. You can contact this customer support through live chat, ticket and toll-free number. It has also a knowledge base to answer some common queries.
If you have any transaction related query, you can use the inbuilt mechanism to report the problem. It is the easiest and most prompt way to get the solution. Your next step should be the request of a callback. It is a good way of contacting customer support as you are not required to wait for customer executives. As you know that there may be long waiting in the toll-free helpline.
Google Pay (Tez) Toll-Free Helpline Number (For Registered Numbers): 1800 419 0157
Google Pay (Tez) Toll-Free Helpline Number (For Un-Registered Numbers): 1800 258 2554