The Reserve Bank of India (RBI) had asked payment companies to ensure that transaction's data are stored exclusively on local servers
Google has spent years building out its payments capabilities, offering consumers the ability to send money to friends
'Google Pay for Business' transfers each rupee earned by the merchant directly into their UPI-linked bank account, it said
The Reserve Bank of India (RBI) had earlier directed all global payment companies to store transaction data of Indian customers within India
According to previous RoC filings, the net loss in 2017-18 was Rs 791 crore, way higher than the Rs 129 crore in FY17.
It launched a 'Google Pay for Business', a separate app for merchants and businesses to enable digital payments through remote verification and registration, that can be done "in minutes"
The company has one of its fastest-growing hits ever with Google Pay, a two-year-old app that millions of consumers are using to spend and transfer tens of billions of dollars
The company has announced a partnership with state-owned telecom operator BSNL to bring open public WiFi network to villages in Gujarat, Maharashtra and Bihar
Move marks the tech giant's entry into wealth management space in India
Google Pay's monthly active users have grown three times, from 14 million in March 2018 to 45 million in March 2019
Google says it complies with all laws, mindful of prioritising data security and uninterrupted services
A PIL claims that GPay was acting as a payments system provider in violation of the Payments and Settlements Act
The company is rapidly scaling up their outreach among small businesses, with almost two out of three transactions coming in from non-metro locations
Paytm complained that Google Pay's privacy policy amounted to "clear disregard for a consumer's need for privacy"
This is not the first time Paytm has called out an international firm over data and payments issues
The company is also going to offer consumers instant loans on its platforms and has partnered four banks
Google Pay app supersedes the Android Pay and Google Wallet apps by bringing the functionality of both these apps together in one single digital payments app