Google Pay is an unauthorized issue comes to an end. The explanation comes against the backdrop of social media murmur Google Pay is an unofficial app.
Google Card is a debit card, which was recently launched by the team. It’s a physical card that also exists as a virtual card in GooglePay, just like any other card you’ve added.
Google Pay Clarify the truth
“We would like to clarify that Google-Pay is classified as 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,” the NPCI said in a statement on June 25.
Google-Pay does not provide mobile wallet services. Its users make payments through the Unified Payments Interface (UPI) service.
Unified Payments Interface
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. The interface regulates by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform.
According to the spokesperson, RBI has not said that the app is unauthorized or not legally compliant in its court hearing or 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.
The spokesperson noted that all transactions made via Google-Pay fully protected by redressal processes laid out by applicable guidelines.