Google Pay is not a payment system operator, RBI informed Delhi High Court

Google Pay is not a payment system operator, RBI informed Delhi High Court

Technology

The Reserve Bank (RBI) has informed the Delhi High Court that Google Pay is a third party app provider (TPAP). The central has said that it does not operate any payment system. Because of this its operation is not in violation of Payment and Settlement Systems Act-2007. RBI gave this information to the bench of Chief Justice DN Patel and Justice Prateek Jalan. RBI also told the Delhi High Court bench that since Google-Pay does not operate any type of payment system, it does not find a place in the list of Authorized Payment System Operators published by the National Payments Corporation of India (NPCI) .
This information has been given to the High Court by the central bank in response to a PIL filed by financial economist Abhijeet Mishra. Mishra alleges that Google’s mobile payment app was providing the facility of financial transactions without obtaining the necessary permission from Google-Pay RBI.
Mishra has also claimed that due to lack of valid approval for providing financial transaction facilities, the app was providing payment services with violation of Payment and Settlement Systems Act-2007. He has also said that Google Pay is not included in the list of authorized payment system operators of NPCI released on March 20, 2019.

The bench then said that a detailed hearing is needed in the case. The High Court has fixed July 22 for the next hearing in the case.

Jason Amato

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