Google seeks RBI approval for entry into India’s digital payments space


Latest News – Google has sought the approval of the Reserve Bank of India (RBI) to integrate the Unified Payment Interface (UPI) within its Android Pay application marking its entry into India’s fast growing digital payments space.

In India, nine out of ten smartphones sold run on Google’s Android operating system, giving the company access to hundreds of millions of customers here. India has 330 million smartphone users, with over 100 million new users adding up every year.

Apart from Google, social networking giants Facebook and WhatsApp are also in discussions with the National Payments Corporation of India (NPCI) to integrate UPI within their chat messengers

“Google’s testing has almost completed and NPCI is waiting for RBI approval. Let me not give any timeline because the RBI would like to take their own time for things like this. As you know the Google, Facebook and WhatsApp are very big players,” said AP Hota, MD and CEO of NPCI.

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