National Payments Corporation of India (NCPI) on Thursday said, “As Google Pay is classified as third-party app provider (TPAP), the transaction made through it are protected by law.”
In a statement issued, the National Payments Corporation of India (NPCI) said, “We would like to clarify that Google Pay is classified as Third Party Provider (TPAP), that also provides UPI payment services like many others working through banking partners and operating under the UPI framework of NPCI.”
“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,” NPCI in its statement said.
“Further, we would also like to clarify that all authorized TPAP’s are already bound by full compliance to all the regulations and applicable laws in India,” the statement said.
Earlier, Google Pay’s official spokesperson also dismissed the reports, where RBI told the Delhi Court that “Google Pay does not operate any payment system. It does not find a place in the list f authorized payment system operators published by the NPCI.”