According to RBI, Google Pay is not a payment operator system, but a third-party app provider. The RBI said this before the Delhi High Court during the hearing of a case. Also, RBI said that due to being a third-party app provider, the functioning of Google Pay does not come under the Payment and Settlement System Act 2007. Since Google Pay does not operate any payment system, it is also not included in the list of authorized payment system operators published by the National Payments Corporation of India (NPCI). The Reserve Bank said this during the hearing of a PIL filed against Google Pay. However, this entire case will not affect the services of existing customers of Google Pay. The hearing is going on
The PIL against Google Pay was filed by economist Abhijeet Mishra. Mishra had alleged that Google's mobile payment services, Google Pay or GPay, were facilitating financial transactions without RBI's permission. Mr. Mishra, Google Pay's service as a payment system provider is a violation of the Payment and Settlement Act, because Google has not taken proper permission from RBI for this. Mishra had also argued before the court that Google Pay is not included in the list of authorized payment systems operators issued by the NPCI on 20 March 2019. After hearing the arguments of all the parties, the court has fixed July 22 for the next hearing.
The PIL against Google Pay was filed by economist Abhijeet Mishra. Mishra had alleged that Google's mobile payment services, Google Pay or GPay, were facilitating financial transactions without RBI's permission. Mr. Mishra, Google Pay's service as a payment system provider is a violation of the Payment and Settlement Act, because Google has not taken proper permission from RBI for this. Mishra had also argued before the court that Google Pay is not included in the list of authorized payment systems operators issued by the NPCI on 20 March 2019. After hearing the arguments of all the parties, the court has fixed July 22 for the next hearing.
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