Fake news: Google Pay is NOT banned by RBI, your transactions are safe
New Delhi, June 26: Google pay is trending on twitter on a misleading WhatsApp message that seems to be circulating social media.
"GPayBanned By RBI", accompanied by news that the Reserve Bank said that Google Pay was not a payments system operator has been trending for over three days now. However, the NPCI has issued a statement confirming that Google Pay is authorised and secure.
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).
However, responding to the claims, on June 24, Google Pay India said, "Google Pay operates completely within the law. We work as a technology service provider to partner banks, to allow payments via UPI. UPI apps in the country are categorised as 'third party apps', and are not required to be 'payment systems operators'."
"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's told PTI.
"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 statement added.