Google Pay part of the UPI ecosystem and & is legal in India: Google India

Google Pay part of the UPI ecosystem and & is legal in India: Google India The RBI statement has caused some consternation, with some believing that Google Pay is not legal in India or that using it is risky. This is not correct, and Google India has issued a lengthy statement to clear the air. According to the company: Google Pay operates completely within the law. Google Pay works as a technology service provider to partner banks, to allow payments via UPI. UPI apps in the country are categorized as 'third party apps', and are not required to be 'payment systems operators'. 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. 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. RBI has stated no such thing either in the court hearing or in their written response to the HC. As a result, its operations do not violate the Payment and Settlement System Act of 2007, according to the RBI, who told a bench of Chief Justice D N Patel and Justice Prateek Jalan. The RBI has also informed the court that because Google Pay does not operate any payment system, it does not appear on the National Payments Corporation of India's list of authorised payment system operators (NPCI). The RBI's submissions were in response to a PIL filed by financial economist Abhijit Mishra, who claimed that Google's mobile payment app, Google Pay or GPay in short, was facilitating financial transactions without the necessary RBI authorization. Mishra claimed that GPay was acting as a payments system provider in violation of the Payments and Settlements Act because it lacked valid authorization from the country's central bank to do so. He has also claimed that GPay does not appear on the NPCI's list of authorised 'payment systems operators,' which was published on March 20, 2019. The bench stated that the matter requires a detailed hearing because it affects other third-party apps, and it was scheduled for July 22.