Google on Tuesday announced a strategic partnership with the State Bank of India to offer a deeper integration in the Google Tez mobile payments app. The Google Tez app will now allow its users to create a UPI ID offered by the State Bank of India. The users can get @oksbi UPI ID inside the app while creating a new UPI address. The integration of SBI services on Google Tez will benefit the SBI users with exclusive offers.
The arrival of the UPI address powered by the State Bank of India will offer a wider range of UPI addresses to the Google Tez users. Google Tez currently offers UPI addresses from over 70 banks including Axis Bank, HDFC Bank, and ICICI Bank that power the @okaxis, @okhdfc, and @okicici UPI addresses, respectively.
Google Tez recently said that it has carried out over 250 million transactions on the platform. It now enjoys a user base of more than 13.5 million active users since the launch in September last year. The app is available in more than eight languages including English, Hindi, Marathi, Bengali, Gujarati, and Tamil among others, on both Android and iOS platforms.
Rajnish Kumar, Chairman, State Bank of India, on the sidelines of the announcement on the new partnership with Google to drive the Tez mobile payments platform further, said that both the companies will work towards ‘building unique propositions for users and merchants’.
“We are committed to creating an enabling environment to promote digital payments for more Indians. We already have a multitude of services including e-commerce and m-commerce, and this partnership with Google Tez will drive innovation and deliver exciting new opportunities for our 40 crore plus customer base,” Kumar said in a company release.
Diana Layfield, Vice President, Head of Finance & Commerce Products, Google’s Next Billion Users, said, “We are very excited about the growth of Tez and our partnership with State Bank of India. We’re delighted to be working closely together to build unique propositions for users and create innovative solutions for merchants to go digital.”