For the past few days, news is coming out that Google Pay is not safe for money transfer. In such a situation, most users have become confused whether it is safe to keep Google Pay on mobile or not. Apart from this, most of the consumers are also worried about how safe the money is in Google Pay.
Google Pay has given a statement
that Google Pay has said that as per the procedure laid down under the guidelines of Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI), transactions done through its platform are completely safe. . This explanation of Google Pay came after the discussion on social media that money transfer method is not allowed through it, because it is an unauthorized app.
A spokesperson for the app, which provides 24-hour service, also said that Google Pay is completely within the purview of the law. Google Pay works as a technology service provider for payment to partner banks through UPI (Unified Payments Interface).
Google has said that the RBI has not said any such thing in the court hearing. 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. The RBI also said that its operation is not a violation of the Payment and Settlement Systems Act of 2007.
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'.
— Google Pay India (@GooglePayIndia) June 24, 2020