We missed this earlier. Google Pay is currently in the "midst of" complying with the Reserve Bank of India's data localisation norms, but will "100%" comply with it, according to news agency PTI. But, there is not much clarity on how much time it would take for it to store payments data in systems located within India. MediaNama has reached out to Google for comment. It's worth noting that the RBI's localisation mandate came into effect in October 2018, meaning that Google Pay is yet to comply with the localisation mandate a year since it's been in effect. The RBI, in April 2018, issued a directive that all payments system operators in India to ensure that data related to payment systems, such as customer data, payment sensitive data, payment credentials and transaction data, be mandatorily stored in India. In India, Google Pay, previously Google Tez, launched in September 2017, and claims to have 67 million monthly active users (MAUs) as of September 2019, while its competitors, Paytm and PhonePe reported 140 million and 55 million monthly active users in the country, respectively. Paytm's active users are for both its payments bank and UPI, while Google Pay and PhonePe are UPI-only platforms. In April 2019, the Delhi High Court had asked RBI and Google India as to how Google Pay was operating in India without its approval, after a petition claimed that it didn't feature in RBI's list of authorised 'payment systems operators'. At the time, the platform had said that it is a "technology solutions provider"…
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"Without Google’s abuse of its dominant position, the media companies would have received significantly higher revenues from advertising and paid lower fees for ad...
Google removes apps of Matrimony.com, Shaadi, and other Indian companies for not complying with the Play Store billing policy
Speaking to Medianama, founders of the concerned companies alleged Google was the one not in compliance with the Indian competition regulator's antitrust order.
Haryana Police Seeks Cancellation of Visas, Passports of Protesting Farmers Identified Through CCTVs, Drone Footages
According to reports, farmers have also informed that their phones are being put on surveillance, and that they are being notified by the police...
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Views: Response to NPCI CEO’s comments that what is not written in regulations is a no-go for fintech entities
NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
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