Google awaiting RBI nod to begin mobile payments service: NPCI
By ENS Economic Bureau | Express News Service | Published: 10th July 2017 08:21 PM |
BENGALURU : Google has completed the testing of its Unified Payments Interface (UPI) payment service and is awaiting Reserve Bank of India’s (RBI) approval to launch its service in the country, according to National Payments Corporation of India managing director and chief executive officer A P Hota.
Speaking at an event here on Monday, he said Facebook and Whatsapp are also in discussion with it, regarding rolling out of their UPI payment services. “Quite likely Google would come first, because their testing is more or less complete. We have written to RBI seeking approval just two or three days back.”
He, however, did not divulge by when RBI would give its approval.
“Google, Facebook and Whatsapp are very big players… Technically it is feasible, but RBI would have to take a holistic look… They will have to look whether there are any risks other than the technology thing,” he said. Hota said the companies were in discussion with various banks regarding the partnership for the rollout after RBI’s approval.