Be careful of using Google Pay, RBI will not take any responsibility in case of disturbances

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If you use Google Pay for digital payment, be careful. If there is any kind of disturbance or fraud during the use of this app of Google for payment, then the Reserve Bank of India (RBI) will not take responsibility for it. The central bank of the country has recently made it clear during the hearing of a petition filed in the Delhi High Court that Google Pay does not operate any type of payment system, rather it is a third-party app provider (TPAP). On the other hand, on Wednesday, Google Pay has issued a statement saying that according to the procedure laid down under the guidelines of RBI and National Payments Corporation of India (NPCI), the transactions done through its platform are completely safe.

Let me tell you that during the hearing of a petition filed by Financial Economist Abhijit Mishra in the Delhi High Court recently, the RBI said that Google is a third party app provider and does not operate any payment system. The central bank told a bench of Chief Justice DN Patel and Justice Prateek Jalan that its operation therefore does not violate the Payment and Settlement Systems Act of 2007. RBI also told the court that Google Pay does not operate any payment system, so it is not included in the list of authorized payment system operators of NPCI.

Petitioner Abhijeet Mishra had alleged in a PIL that Google’s mobile payment app Google Pay or G Pay was facilitating financial transactions without the requisite approvals from RBI. Mishra has claimed in the petition that Jeep is acting as a payment system provider in violation of payment and settlement law, while he has no valid permission from the country’s central bank for such actions.

During the hearing of the case, the bench said that a detailed hearing of the case is needed, as it affects other third-party apps. The next hearing of this case will be held on 22 July.

On the other hand, Google Pay said on Wednesday that according to the procedure laid down under the guidelines of RBI and NPCI, transactions done through its platform are completely safe. This explanation of Google Pay came after a discussion on social media that it is not legal to transact money through it, because it is an unauthorized app.

A spokesperson of Google said that it has been wrongly cited by some places in social media that it has been claimed that it is not legal to transfer money through Google Pay because this app is unauthorized. This is wrong and its truth can be found on the NPCI website. The spokesman said that the RBI has not said any such thing in the court hearing.

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