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Google Pay will comply with RBI’s data localisation norms ‘100%’: Report

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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