Lawstreet Journal

Google Pay App does not require RBI authorization as it is not a PSO but a third-party application provider: Google to HC

Lawstreet Journal 24 Jul 2020 5:55pm

Image courtesy: Lawstreet Journal Business Google Pay App does not require RBI authorization as it is not a PSO but a third-party application provider: Google to HC

Google India Digital Services Pvt Ltd has told the Delhi High Court that its Google Pay app does not require RBI authorization as it is not a payment system operator (PSO) but a third-party application provider. Google, in an affidavit, has said the PSO authorized by the Reserve Bank of India (RBI) is the National Payment Corporation of India (NPCI) which is the owner and operator of the entire unified payment interface (UPI) network.

The National Payments Corporation of India (NPCI) has said that Google Pay is an authorized app and the payments made through it are fully protected.

In a statement, the electronic payment and settlement systems infrastructure provider, NPCI, said that the Reserve Bank of India (RBI) has authorized it as a payment system operator (PSO) of the Unified Payments Interface [UPI] platform and NPCI in its capacity as PSO authorizes all UPI participants.

It said that Google Pay is classified as a 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 authorized TPAPs are listed on the NPCI website.

"All transactions made using any of the authorized TPAPs are fully protected by the redressal processes laid out by applicable guidelines of NPCI/RBI and customers already have full access to the same," the NPCI statement said.

The clarification comes amid social media buzz that the problems and issues arising while transferring money through Google Pay cannot be redressed under law as the app is unauthorized.

NPCI has… Continue Reading...


Tagged: Reserve Bank of India   Google  
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