A Google developed an application for the India intended for money transfers via sound. As this is a new fast form of transfer, it was named Tez (in Hindi it means "Fast").
More than just a mobile payments application, Google's Tez promises to become popular not only for simplicity but also for its unique availability.
The Tez app uses a technology known as “audio QR ” and that allows pairing two devices to transfer money using sound waves at an inaudible frequency for human ears.
This application promises to win a lot of users by not sharing any personal information such as account number or mobile phone number.
The application comes as a much more viable response when compared to other mobile applications that make use of NFC. It turns out that while most payment applications require NFC connection, to use Tez the smartphone only needs microphone and audio speaker.
Tez is now available for Android e iOS. For now Google only has plans to launch this app in other countries of emerging economy, namely the Vietnam, Indonesia and Thailand.
