The National Payments Corporation of India (NPCI) has clarified that Google Pay is a classified third-party app provider and operates under the UPI framework of NPCI. NPCI has said that transactions related to third-party app providers like Google Pay can be resolved under the guidelines of RBI and NPCI.
NPCI has said in the statement that there is such misleading news on social media that transferring money through Google Pay is not legally safe as the app is unauthorized. But the truth is that it is a classified third-party app provider. NPCI has also said that the list of all authorized third-party app providers is available on the NPCI website.
NPCI has stated that transactions done using any authorized third-party app provider are completely secured by redressal procedures. These procedures are enforced by the NPCI / RBI guidelines and customers already have full access to them. It was further stated in the statement that it is mandatory for all authorized third party app providers to follow all the rules and laws applicable in India.
FD to be closed before maturity in SBI, work will be done sitting at home; This is online process
Why was there a ruckus?
Earlier this month, RBI told the Delhi High Court that Google is a third-party app provider and does not operate any payment system. A Google spokesperson says that some quotes on social media have misinterpreted RBI's claim that transferring money from Google Pay is not protected by law as the app is unauthorized. The spokesperson has said that this is wrong and the app is authorized, it can be verified from the NPCI website. Further, the RBI has not said during the hearing in Delhi court or in its written response that the Google Pay app is unauthorized or does not follow the law. All transactions from Google Pay platform are fully secured by the redressal procedures implemented under the directions of RBI and NPCI.
Do not become a victim of misleading news
NPCI has said that the UPI ecosystem is completely safe. We appeal to the citizens not to fall prey to misleading news. Also, there is an appeal to UPI customers not to share their UPI PIN and OTP with anyone.
NPCI has said in the statement that there is such misleading news on social media that transferring money through Google Pay is not legally safe as the app is unauthorized. But the truth is that it is a classified third-party app provider. NPCI has also said that the list of all authorized third-party app providers is available on the NPCI website.
NPCI has stated that transactions done using any authorized third-party app provider are completely secured by redressal procedures. These procedures are enforced by the NPCI / RBI guidelines and customers already have full access to them. It was further stated in the statement that it is mandatory for all authorized third party app providers to follow all the rules and laws applicable in India.
FD to be closed before maturity in SBI, work will be done sitting at home; This is online process
Why was there a ruckus?
Earlier this month, RBI told the Delhi High Court that Google is a third-party app provider and does not operate any payment system. A Google spokesperson says that some quotes on social media have misinterpreted RBI's claim that transferring money from Google Pay is not protected by law as the app is unauthorized. The spokesperson has said that this is wrong and the app is authorized, it can be verified from the NPCI website. Further, the RBI has not said during the hearing in Delhi court or in its written response that the Google Pay app is unauthorized or does not follow the law. All transactions from Google Pay platform are fully secured by the redressal procedures implemented under the directions of RBI and NPCI.
Do not become a victim of misleading news
NPCI has said that the UPI ecosystem is completely safe. We appeal to the citizens not to fall prey to misleading news. Also, there is an appeal to UPI customers not to share their UPI PIN and OTP with anyone.
Tags:
Tech_News