It is important to note that Google Pay has NOT been banned by either RBI or NPCI.
- Last Updated: June 26, 2020, 8:39 PM IST
Days after Reserve Bank of India (RBI) clarified in the Delhi High Court that Google Pay did not provide any payment systems raised questions about the legitimacy pf the digital transaction platform, Google Pay has clarified that it operated completely within the law.
In a tweet, GPay clarified that the app functions as a “technology service provider to partner banks, to allow payments via UPI”. It also clarified that “All transactions made via the app are fully protected by redressal processes laid out by applicable guidelines of the RBI/NPCI”.
The clarification came after the electronic payment and settlement systems infrastructure provider The National Payments Corporation of India (NPCI), confirmed that the platform was indeed an authorised app and that payments made through it are fully protected.
READ: Google Pay is NOT Banned By RBI: Your Transactions Are As Safe As Any Other Payment App
Despite the clarification, social media has been filled with reactions and debate regarding Gpay with many erroneously claiming that the transaction app had been banned by RBI. Despite the clarification, “RBI bans Gpay” trended on Twitter and memes flooded the microblogging site Twitter.
Some, however, took to Twitter to clarify that GPay indeed was not banned by RBI and that the trend was absolutely fake.
Attention Please !
FAKE TREND EXPOSED
‘GPayBanned By RBI’ is a totally fake trend, mostly probably from IT Cell
Google Pay is authorized and fully secured under the law, clarifies NPCI
IT Cell; please don’t waste public’s time
RT to STOP FAKE NEWS https://t.co/wdjMu3srTX
— Mohd. Abdul Sattar (@SattarFarooqui) June 26, 2020
Who gains by creating fake news against Google Pay?
— Srinivas Kodali (@digitaldutta) June 26, 2020
It is important to note that Gpay has NOT been banned by either RBI or NPCI.
The trend has likely stemmed from a report from earlier this week, wherein a Press Trust of India report quoted the Reserve Bank of India as stating that Google Pay does not operate a payment system in India, and hence does not find a place in the list of authorised payment system operators published by the National Payments Corporation of India (NPCI). RBI’s response came in light of a PIL to the Delhi High Court, filed by economist Abhijit Mishra. However, Google has since responded to RBI’s submissions, stating that it is a legal operator in India, and as a result, your money is as safe as it would be on another other payment service’s platform.