Stop using Google Pay, Its not authorised - RBI Says!!

Google Pay not a payment system operator: RBI to Delhi HC

The Reserve Bank of India (RBI) has told the delhi High Court that Google Pay is a third-Party app provider (TRAP) and does not operate any payment systems.

The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third-party app provider (TPAP) and does not operate any payment systems.

Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI has told a bench of Chief Justice D N Patel and Justice Prateek Jalan.

RBI has also told the court that since Google Pay does not operate any payment system, it does not find a place in the list of authorised payment system operators published by the National Payments Corporation of India (NPCI).

The RBI's submissions came in response to a PIL by financial economist Abhijit Mishra who has alleged that Google's mobile payment app, Google Pay or GPay in short, was facilitating financial transactions without the requisite authorisation from RBI.

RBI declared that if any issue arises while transferring amount thru Gpay one cannot claim as the same is not in the list of authorised payment system by NATIONAL PAYMENTS CORPORATION OF INDIA

Read More at: https://www.indiatoday.in/business/story/google-pay-not-payment-system-operator-rbi-to-delhi-hc-1691083-2020-06-20

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