Google Pay Not Protected By The RBI? Viral Claim Is False
The claim misrepresents a story, saying the GPay is not protected by the RBI since it is not a payment systems operator.
Google Pay Is Not A Payment System Operator And Is Thus Not Protected By The RBI
The claim misrepresents a story in India Today where Google Pay tells the Delhi HC that it is not a payments operator but an authorised third-party provider of UPI and was viral in 2020. BOOM found that while UPI is developed for banks, third-party entities can facilitate them through banking partners called 'PSPs', making UPI transactions secured and eligible for redressal through the RBI.
Claim : Transactions on Google Pay are not protected by the RBI
Claimed By : Users of social media
Fact Check : False
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