Thus users with a basic handset can not use it. NFC-based solutions require special hardware that supports near-field communications. To understand this, let’s look at the limitations of these digital payment solutions. This is where Google Tez uses a new alternative, audio-based QR codes ( AQR). And the transaction can be done with a device that has just a microphone and speaker.Įxisting digital payment systems use one or more of the following technologies to exchange account information when making transactions. Users can securely exchange account information using audio to initiate a transaction. This is where Google Tez’s AQR-based solution sounds promising. Since the demonetization of the Indian currency last year, India has seen a tremendous increase in the number of digital payment apps and solutions.Īlmost every bank, e-commerce company, and all major telecom providers have one or more apps that support digital payments and digital wallets. Google recently marked its entry into the Indian digital payments market by introducing the payment app Tez (Hindi for fast). By Vaidic Joshi The future of digital payment systems - Google Tez and Audio Quick Response

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