All transactions fully protected and in adherence to RBI, NPCI: Google Pay

google pay

Transactions done through Google Pay are fully protected and in complete adherence to RBI, NPCI, said the payment firm.

google pay

The statement from the Google-owned payments company comes in response of social media buzz that speculations that are terming Google pay’s transactions unsafe and cannot be redressed under law as the app is unauthorised.

“Some quotes on social media, wrongly attributed to the RBI, claim that issues arising while transferring money through Google Pay are not protected by the law, since the app is unauthorised. This is incorrect and can be verified on NPCI’s website,” a Google spokesperson said.

According to the spokesperson, RBI has not said that the Google Pay app is unauthorised or not legally compliant in its court hearing or in its written response to the Delhi High Court.

Earlier this month, Reserve Bank of India told the Delhi High Court that Google Pay is a third party app provider and does not operate any payment systems.

Therefore, its operations are not to be viewed in violation of the Payment and Settlement System Act of 2007, RBI had told a bench of Chief Justice D N Patel and Justice Prateek Jalan.

Also Read: Google Pay issues advisory to curb UPI fraudsters

“Google Pay operates completely within the law. Google Pay works as a technology service provider to partner banks, to allow payments via UPI (Unified Payments Interface). UPI apps in the country are categorised as ‘third party apps’, and are not required to be ‘payment systems operators’,” the Google spokesperson said.

The spokesperson stated that all transactions made through Google Pay are fully protected and in complete adherence with the guidelines issue by RBI and National Payments Corporation of India.

 “All transactions made via Google Pay are fully protected by redressal processes laid out by applicable guidelines of the RBI/ NPCI, and users can reach out for any help 24/7, through Google Pay customer care,” the spokesperson said


The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.