Google Pay going to be banned in India | see full report of NPCI

Google Pay going to be banned in India you must have heard such news in your recent past, but is it really going to happen but tell you Google Pay is not banned in India, clarified the National Payments Corporation of India (NPCI). The NPCI is an umbrella organisation that operates digital payments in India, and developed the Unified Payments Interface (UPI) which is used for payments by platforms like Google Pay, PhonePe, and Paytm. On social media, there is a trending hashtag “GPayBanned By RBI”, accompanied by news that the Reserve Bank said that Google Pay was not a payments system operator. However, soon after this began to circulate, the NPCI has issued a statement confirming that Google Pay is authorised and secure.

In its clarification, the NPCI clearly writes that the RBI authorised it as a Payments System Operator (PSO). Companies like Google Pay are app providers to the PSO, and NPCI confirmed that transactions on Google Pay are fully protected under the law. It states: “RBI has authorised NPCI as a Payment System Operator (PSO) of UPI and NPCI in its capacity as PSO authorises all UPI participants. We would like to clarify that Google Pay is classified as Third Party App Provider (TPAP) that also provides UPI payment services like many others, working through banking partners and operating under the UPI framework of NPCI. All transactions made using any of the authorized TPAPs are fully protected by the redressal processes.”

In response, the RBI reportedly stated the Google Pay does not operate any payment systems, and that is why its name is not in the list of authorised operators. It also told the Court that for this reason, it is not in violation of the law — however, the trending hashtag ignores this line in the report that's frequently included with it — and so even before the NPCI issued its clarification, this hashtag was misleading.

Source: gadgets.ndtv.com