All transactions fully protected under RBI, NPCI guidelines: Google Pay
PTI, Jun 25, 2020, 12:06 PM IST
New Delhi: Google Pay on Wednesday, June 24 said that all transactions made through its platform are fully protected by redressal processes laid out in the guidelines issued by the Reserve Bank of India and the National Payments Corporation of India.
The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorized.
“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 unauthorized. 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 unauthorized or not legally compliant in its court hearing or in its written response to the Delhi High Court.
Earlier this month, RBI 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 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.
“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 categorized as ‘third party apps’, and are not required to be ‘payment systems operators’,” the Google spokesperson said.
The spokesperson noted that all transactions made via Google Pay are fully protected by redressal processes laid out by applicable guidelines.
“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.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
MUST WATCH
Latest Additions
BJP candidate K Sudhakar charged with bribery in Karnataka, Rs 4.8 crore cash confiscated
LS polls 2024: Nearly 13% voter turnout in first 2 hours of polling in Udupi-Chikmagalur Constituency
SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
Robust Voter Turnout in Kerala: 19.06% Cast Ballots in Initial 3 Hours
Delhi records low of 21.6 deg C, max temperature likely to touch 40 deg C