After Tiktok ban, Google Pay's sudden disappearance from Play Store creates panic.

After Tiktok ban, Google Pay's sudden disappearance from Play Store creates panic.
After Tiktok ban, Google Pay's sudden disappearance from the Play Store creates panic.

The sudden disappearance of the GooglePay app from the Play Store has created a panic situation among netizens on Tuesday.

After the government's recent ban on the popular video-sharing app Tik Tok and several others for their apparent links with China, this sudden disappearance of Googe Pay India's go-to app for all kinds of digital transactions, spread wild theories on social media.

While Google Pay (India) officials have tweeted saying that this problem was "temporary" and that they were working on fixing it, many were led to wonder if it had anything to do with the National Payments Corporation of India (NPCI)'s recent decision to put a cap on the transaction for digital platforms.

NPCI is the governing body of Unified Payments Interface (UPI) that facilitates the real-time payment system in India.

ALSO READ: What Is Google People Card And How To Make It?

Google Pay, Paytm, and PhonePe are the top 3 leading apps in India for digital payments. According to the new rules, these platforms will now be capped for the percentage of total UPI transactions that could be carried out each year.

As per the latest NPCI guidelines, each digital platform could maintain 50% of total UPI transactions in its first year of operation, subsequent years will see this reduced to 40 and then to 33 percent. The maximum share of UPI transactions that a digital platform could maintain is a maximum of 33%.

The new revised NPCI guidelines were out for implementation from July 31, but it has been implemented from April onwards.

After the new rules, Google Pay, which enjoys a 42 percent market share (2019 data), is likely to see the most upheaval. Once it crosses the set limit, users would find it difficult to make UPI transactions and new users will not be able to register/install the app. We believe, is the reason why Google Pay has suddenly disappeared from the Play Store.

Mr. K Chadanand, well-versed in Apps and technology, said this NPCI move has been designed to make sure that no "technology" company gets to reign within the finance sector.

  • Neither Google Pay India nor NPCI has released any more clear details in this regard.

However, Google Pay India in its latest tweet today confirmed that the issue has been fixed and users can discover the Google Pay app on Play Store again.

If you like my posts then follow us :

Get all the latest updates on Tech NewsBlogging Tips, Freelancing Tips, Computer Tips, Earn Money Online, Android, How to. Reviews check out

Tags: Google Pay, Tech News

Copyright © YOYO TECH TIPS

Newer Posts Older Posts

Related posts