New Delhi: The Reserve Bank of India (RBI) says Google Pay is not a Payment System. The central bank informed the Delhi High Court that Google Pay is only a third-party app provider. The RBI was considering public interest litigation on Google’s mobile payment app, Google Pay (G Pay), which works without the approval of the Reserve Bank. Economic expert Ajit Mishra has filed a petition in the Delhi High Court.
Google Pay is not a payment system. Google Pay is not listed in the payment system operator published by the National Payment Corporation of India. The Reserve Bank said that the activities of Google Pay are not in violation of the Payment and Settlement System Act of 2007.
