Google pay is a third-party app provider (TPAP) operating under the UPI framework of NPCI that provides UPI payments like working through banking partners and many other ways. All licensed Third-party app providers (TRAP) are listed on the NPCI website. Some posts on social media claimed that money transfer through Google pay is not safe, Google pay is not secured by any law since the app is not authorized. Today NPCI came out with a clarification regarding the money transfer through Google pay that they have noticed some quotes on social media that money transfer through Google pay is not secure because the app is not authorized under NPCI but RBI has authorized NPCI as a Payment System Operator (PSO) of UPI and NPCI in its position as PSO authorizes all UPI participants.
The Payment system Operator also added that Google pay is a third-party app provider operating under the UPI framework of NPCI. All licensed TRAPs are fully secured by the redressal process established by applicable guidelines of NPCI/RBI and customers who have access to the same. They also clarified that all apps authorized by NPCI are bound by the regulations and applicable laws under the Indian constitution. UPI payment system is fully safe and protected and requested the citizens not to fall as a victim to such misleading information. They also suggest the UPI customers not to share their OTP (one-time-password) and UPI pin with anybody.
Google pay is considered as safer than any other digital payment cards. For example, when you make payment using debit or credit card you are sharing your card information to the vendor. But payment through google pay is highly encrypted and the data are stored in Google servers so that our personal information is moreover safer than making payment through cards. Google wallets permit users to store various payment methods like your credit and debit cards to track their transaction processing speed. Encryption and passwords give additional protection to your financial information. This prevents the seller or the third party from accessing your information with each purchase.