It is being claimed on social media that the Google Pay app has been banned.
Google Pay clarified that Google Pay is like a Third Party App Provider (TPAP), which, like others, also provides UPI Payments Service under the UPI operation of Banking Partners and NPCI.
The company said in a statement, ‘We have seen some things going on on social media, which say that transferring money through Google Pay is not protected by law, because the app is unauthorized. We would like to clarify that Google Pay is like a Third Party App Provider (TPAP), which, like others, also provides UPI Payments Service under the UPI operation of Banking Partners and NPCI. All transactions carried out using any authorized TPAP are completely protected by correctional procedures.
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Earlier, Google Pay on Wednesday said that transactions carried out through its platform are completely secured by the procedure laid down under the guidelines of Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI).
Google Pay operates completely within the law. We work as a technology service provider to partner banks, to allow payments via UPI. UPI apps in the country are categorized as ‘third party apps’, and are not required to be ‘payment systems operators’.
➡ https://t.co/7sQv2A3mzS — Google Pay India (@GooglePayIndia) June 24, 2020
A spokesperson of Google said that if there is any problem while transferring money from Google Pay platform, then it cannot be resolved by law, because the app is unauthorized. But this is wrong and its truth can be verified on the NPCI website. A Google spokesperson said that the RBI has not said any such thing in the court hearing.
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For information, let us tell you that earlier this month, the RBI told the Delhi High Court that Google Pay is a third party app provider and does not operate any payment system. Also, RBI Chief Justice DN Patel and Justice Prateek Jalan said that its operation is not a violation of the Payment and Settlement Systems Act of 2007.