The reason Google Pay is able to operate in India is that it has the approval of the National Payments Corporation of India (NPCI), which runs UPI and approves and monitors all payment services in India. It is on the NPCI’s list of approved third-party apps for UPI transactions and has tie-ups with HDFC Bank, ICICI Bank and Federal Bank.
WhatsApp raises concerns over delay in payment business approval
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How Is Google Pay Operating Without Authorisation? Delhi High Court Asks RBI