Clarification Statement from NPCI on Google Pay
== “We have come across some quotes
on social media which suggest that transferring money through Google Pay is not
protected by the law, since the app is unauthorised. RBI has authorised NPCI as
a Payment System Operator (PSO) of UPI and NPCI in its capacity as PSO
authorises all UPI participants. We would like to clarify that Google Pay is
classified as Third Party App Provider (TPAP) that also provides UPI payment
services like many others, working through banking partners and operating under
the UPI framework of NPCI. All authorised TPAPs are listed on the NPCI
Website.
All transactions made using any of
the authorized TPAPs are fully protected by the redressal processes laid out by
applicable guidelines of NPCI/RBI and customers already have full access to the
same. Further, we would also like to clarify that all authorised TPAP’s are
already bound by full compliance to all the regulations and applicable laws in
India. UPI ecosystem is fully safe and secure, and we appeal to the citizens
not to fall prey to such malicious news. We also request UPI customers
not to share their OTP (one time password) and UPI Pin with anybody”. ==
About NPCI
National
Payments Corporation of India (NPCI) was
incorporated in 2008 as an umbrella organization for operating retail payments
and settlement systems in India. NPCI has created a robust payment and
settlement infrastructure in the country. It has changed the way payments are
made in India through a bouquet of retail payment products such as RuPay
card, Immediate
Payment Service (IMPS), Unified
Payments Interface (UPI), Bharat
Interface for Money (BHIM), BHIM Aadhaar, National
Electronic Toll Collection (NETC Fastag) and Bharat
BillPay. NPCI also launched UPI 2.0 to offer a
more secure and comprehensive services to consumers and merchants.
NPCI is focused on
bringing innovations in the retail payment systems through use
of technology and is relentlessly working to transform
India into a digital economy. It is facilitating secure payments solutions
with nationwide accessibility at minimal cost in furtherance of India’s
aspiration to be a fully digital society.
For more information, visit: https://www.npci.org.in/
