News has been widely shared on social media that the Google Pay app is not secure and money transactions made through the Google Pay app are not safe. Are the transactions we make with Google Pay really safe? The answer to the suspect questions is in this post.
Online Personalized Banking Services
Considering the inconvenience caused to people, the online transaction system was introduced. Subsequently, people went to the ATM and deposited money, mobile banking, net banking, online banking and all services were made online. People are greatly welcomed by these online services. Next, banks began offering their services exclusively through Mobile Apps.
As smartphone usage increased, private companies began to make banking transactions using mobile apps with banks to offer multiple offers. These mobile applications made the money transfer in just a few seconds from where it was. These companies also started offering gifts that were acceptable to the transaction. Google Pay is the pioneer of mobile apps.
Google Pay, which provided banking services through mobile apps
The Google Pay app is not only a cash transaction, but also offers a range of services such as recharging, electricity bills, train ticket booking and bus ticket booking. Thus, people started using the Google Pay service much more than banking services. But recently, news spreading that Google Pay is not secure has created huge fears among users.
Google Pay is Safe!
Some of the transactions done by Google Pay have been met with numerous complaints. As a result, reports on social media that Google Pay transactions are unsafe, the Google Pay Company has now explained. Google has said that all of the Google Pay transactions are carried out with the appropriate guidelines, according to the RBI guidelines.
Explanation given by Google
It also said that people should not be confused. Google has flatly denied allegations that Google Pay is unauthorized and unsafe. The Google Pay app has said that people can use it with full confidence. The company said it only works with all kinds of security measures.
Google also pointed out that the Reserve Bank has recently stated that all of Google Pay’s transactions take place only after they are authorized under the 2007 Transaction Act. All transactions made by Google Pay have been reported to be secure.