You are here: Home » Companies
Business Standard

Diana Layfield, vice-presid

Diana Layfield, vice-presid

A K Bhattacharya 

This is article Banner

A K Bhattacharya

Global info tech giant Google's first India product, Tez, a digital payment app, has got 12 million users in 10 weeks. Thanks to, among other things, massive cashbacks to users on every transaction.


Google recently said its mobile wallet had processed over 140 million transactions in a short span. The company has tied up with as many as 70 utility providers, including BSES and Dish TV.

Taking on current market leaders such as Paytm (280 mn users) and MobiKwik, Google plans to add services for merchants and sellers to widen the use of Tez.


Diana Layfield, vice-president for product management at Google, said giving referral cashbacks is a much more cost-effective method of gaining customers.


"In terms of things associated with payments, it (cashbacks) is just a sprinkling here and designed to make it fun. Referral cashbacks are an important way introducing people to the product. It is different from what other people have done. It is a lower cost method of customer acquisition. Referral cashbacks are a strong way of combining relatively low cost acquisition," she said.


Many others offered more rewards for referrals but few had seen such a success, she contended. "I think it is a combination of people having incentive to refer but also believing in the app."


The company has invested a lot in this product and hopes it becomes one of the top five from Google in the near future. It plans to bring cards and wallets to the Tez platform next year.


"Google Tez is the biggest commitment the company has made in recent times. There are well over 100 engineers working on the product which is being developed all around the world," said Layfield.


On the projected number of users by next year, she said they were not having any hard targets. "Rather than setting such targets, our focus is on building a better product. Bill payments will add a new set of users."


"In 2018, we will add more services to Tez for merchants," Ceaser Sengupta, vice-president, Next Billion Users at Google, had recently said. The company said the government-promoted Bhim United Payments Interface had seen 16-fold growth from March to November, thanks to Google Tez. "Tez accounts for 73 percent of Bhim UPI transactions. We have tie-ups with Axis Bank, HDFC, ICICI and SBI," said Sengupta.



Box--- Google's competition



Paytm-285 million users

Services -- Bill and utility payments, movie and events ticketing, airline and hotel bookings, gold buying, financial services,



MobiKwik--- 160 million users


Services--- Bill and utility payments, financial services, events and movie ticketing, among others


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 12 2017. 14:26 IST