In an ongoing PIL, RBI has also told the Delhi High Court that since Google Pay does not operate any payment system, it does not find a place in the list of authorised payment system operators published by the National Payments Corporation of India (NPCI).
The bench said the matter requires detailed hearing as it affects other third party apps and listed it on July 22.
All FinTech startups using user consent to make payments in their payment apps should be careful and make it clear on their websites that they are not a payment register operator approved under NPCI and they are only user consent based payment solution provider.
Now the question is whether such services also come under the purview of NPCI?
Read on
Google Pay not a payment system operator: RBI to Delhi HC
Reserve Bank of India (RBI) Governor Shaktikanta Das. The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third party app provider (TPAP) and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI has told a bench of Chief Justice D N Patel and Justice Prateek Jalan.
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