Google Introduces Tez a mobile payment app in India that uses sound to transfer money

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Tez is a mobile app in the phone that allows the users to make payments effectively from their bank accounts. It doesn’t store value in the phone app like PayTM.

Banks supporting the project include Axis, ICICI, HDFC Bank and the State Bank of India. A particularly interesting feature of the app is that it uses Audio QR (AQR) which lets the phones communicate using sound, this avoids many of the problems experienced with NFC and Bluetooth.

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