Google Pay

Google Pay (GPay) is a digital payment platform developed by Google, designed to facilitate seamless contactless payments, online transactions, and peer-to-peer money transfers. Launched in India in 2017 as Tez and later rebranded to Google Pay in 2018, it quickly became one of the leading Unified Payments Interface (UPI)-based apps in the country. The app allows users to link their bank accounts and make transactions directly, without needing to recharge or load a separate digital wallet. Its user-friendly interface, security features, and integration with numerous Indian banks have made it a popular choice for digital payments.

Google Pay supports various payment methods, including bank transfers, bill payments, mobile recharges, ticket bookings, and merchant transactions. The app also offers cashback rewards, referral bonuses, and scratch cards to encourage user engagement. Its integration with Google's ecosystem allows for easy payments across Google services, as well as on websites and apps that accept Google Pay.

Google Pay operates under the National Payments Corporation of India (NPCI) framework, which is regulated by the Reserve Bank of India (RBI). As a third-party app provider (TPAP) in the UPI ecosystem, Google Pay is subject to stringent security guidelines established by the RBI and NPCI. The app features multiple layers of security, including two-factor authentication, biometric verification, and transaction alerts, ensuring the safety of user data and funds.

Google Pay’s global presence extends beyond India, as it operates in several other countries, offering local variations of its digital payment services. In India, its rapid adoption has contributed to the government’s push toward a cashless economy, aligning with the Digital India initiative.

In July 2021, BOOM fact-checked a viral claim that suggested Google Pay is not protected by the RBI because it is not a payment systems operator.

BOOM found out that the claim misrepresented the actual story, clarifying that Google Pay operates as a third-party app provider (TPAP) within the UPI framework, which is regulated by the RBI and NPCI, making it a secure platform for digital transactions.