RBI, Phonepay, Google are worried about hitting American companies! | RBI will hit American companies, Phonepay, Google worried

Bengaluru, April 14: Phone Pay, Google Pay, Paytm, and many other UPI apps are familiar to the masses in India. After the implementation of the UPI payment system, these applications have been recognized as the easiest and most popular applications among people.

The use of Paytm app is prohibited in India due to technical and security reasons. It is doubtful whether Phone Pay and Google Pay will also follow the same path.

However, the most popular apps are Phone Pay and Google Pay apps because you don't pay any fees for any transaction and transferring money from one person to another is very easy and these apps are fast becoming popular.

At present, 80 percent of the transactions in the country are done through this UPI app, but now RBI is moving to control Phone Pay and Google Pay apps by imposing new conditions.

RBI said replacement application will come

Phone Pay and Google Pay were the most popular UPI apps in India, originally developed by US-based companies. For this reason, RBI has decided to regulate Phone Pay and Google Pay as more and more people focus on using domestic applications.

Excessive use of foreign applications is always harmful to the country and the security of the country. There may be information leakage, data theft or account hacking or any other problem. No wonder these foreign apps are responsible for everything. So the RBI, having woken up early, has come up with a plan to provide more customer service to users who use Janechhu's domestic app instead of these foreign apps.

Fin-tech companies will be given more support and cooperation by the central government to develop more such apps so that Indians can use PhonePay and Google Paytm apps earlier, plans to make the country's apps as easy to use as possible, reducing the use of PhonePay and Google Pay in the near future. RBI thinks so.