RBI has not banned Gpay, viral claims are false
A tweet claiming that Gpay (Google pay) has been banned by RBI is viral on social media.
By Shimron Diana Published on 9 July 2021 6:32 AM GMT
Hyderabad: A tweet claiming that Gpay (Google pay) has been banned by RBI is viral on social media.
"Gpay banned by RBI," reads the claim.
(Find the link to the tweet here)
Fact Check:
The claim is false. RBI (Reserve Bank of India) hasn't banned GPay.
"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 authorized 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," Financial Express quoting payment system operator said.
We then found an article by gadgets.ndtv.com, which stated that, "Google Pay Is Not Banned, but Is Authorised and Protected by Law, NPCI Clarifies"
NPCI (National Payments Corporation of India) also clarified that Google Pay (Gpay) is not banned in India. The NPCI is an umbrella organization that operates digital payments in India and developed the Unified Payments Interface (UPI) which is used for payments by platforms like Google Pay, PhonePe, and Paytm.
The viral claim is a trending hashtag "GPayBanned By RBI". It is accompanied by news that the Reserve Bank said that Google Pay was not a payments system operator.
However, soon after this began to circulate, the NPCI has issued a statement confirming that Google Pay is authorized and secure. "Amid reports that Google Pay is not in the list of authorized payment system operators published by the National Payments Corporation of India (NPCI), Google's online payment app has clarified that the Reserve Bank of India (RBI) has authorized NPCI as a Payment System Operator (PSO) of Unified Payments Interface (UPI) and the NPCI in its capacity as PSO authorizes all UPI participants," Times Now said.
Conclusion:- Hence the claim is False. National Payments Corporation of India has clarified that Google Pay (Gpay) is not banned in India.
