NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, November 2, 2017

During Google’s Q3 2017 earnings call, the firm announced that it’d seen early adoption of Tez, its proprietary mobile payment platform, in India.

Tez operates on a proprietary technology called Audio QR — the technology uses sound waves to send payment information between phones in proximity, without the need for personal information, NFC chips, or QR codes.

It already has more than 7.5 million users, and has seen more than 30 million transactions since its launch in September. But it’s no surprise that Google’s seen early success in India.

Photo courtesy of Simone McCourtie.