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Facebook Inc. lost so much time peddling a controlled internet-lite to India’s poor, it let Google score a lead where it truly matters: digital payments in the only billion-plus-people market open to Western tech firms.
This week Google launched Tez, which means “fast” in Hindi, as an online payment application custom-built for the nation. Early users complained of glitches, but those are fixable. What’s important is that by hitting the market before Zuckerberg’s planned WhatsApp payment method, Google got the Indian government’s blessing for an innovation that could become an emerging-market standard: audio QR.
Quick response codes have put the Chinese digital payments market far ahead of Western counterparts, and Singapore wants to copy the model. China’s revolution was spearheaded by Baidu Inc., Alibaba Group Holding Ltd and Tencent Holdings Ltd. The homegrown BAT trinity used its control of e-commerce to beat both cash and plastic on convenience and costs.
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