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Transactions protected by RBI and NPCI: Google Pay

Google Pay on Wednesday said that all transactions made using its platform are protected by the redressal procedures laid out in the guidelines released by the Reserve Bank of India and the National Payments Corporation of India.

The remark comes amid social media speculation that any problems that may emerge while transferring money using Google Pay would not be resolved under the law because the service is unlicensed.

‘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 stated.

The spokesperson reiterated that RBI has not mentioned that Google’s Pay app is unauthorised or illegal in its court hearing or its rebuttal to the Delhi High Court.

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The RBI told the Delhi High Court earlier this month that Google Pay is a third-party app provider and does not operate any payment systems. It stated to the bench of Chief Justice D N Patel and Justice Prateek Jalan that its operations are not in violation of the Payment and Settlement System Act of 2007.

‘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 spokesperson added.

‘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.

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