Google Pay Triumphs In Indian Capital's High Court, Clears Regulatory Roadblocks
Portfolio Pulse from Shomik Sen Bhattacharjee
The Delhi High Court has dismissed two petitions against Alphabet Inc's Google Pay, allowing it to continue operations in India. The court clarified that Google Pay operates as a third-party app provider, not requiring direct approval from the Reserve Bank of India under the Payment and Settlement Systems Act. The court also addressed data privacy concerns, stating that while the app provider can store some data in an encrypted form, the payment service provider's bank systems hold the more sensitive payment data.
August 23, 2023 | 11:26 am
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POSITIVE IMPACT
The court's decision is positive for Alphabet Inc as it allows Google Pay to continue operations in India, a significant market for the company.
The court's decision removes regulatory roadblocks for Google Pay in India, allowing it to continue operations. This is positive for Alphabet Inc as India is a significant market for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The court's decision is positive for Alphabet Inc as it allows Google Pay to continue operations in India, a significant market for the company.
The court's decision removes regulatory roadblocks for Google Pay in India, allowing it to continue operations. This is positive for Alphabet Inc as India is a significant market for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100