Google Pay into data localisation compliance
Google Pays monthly active user-base grew three times to reach 67 million in September 2019 up from 22 million in September 2018, a top company
official said on Wednesday.
"We have grown three times in terms of monthly active users and areat 67 million monthly active users as of September 2019 and that is up from 22 million users in September 2018," Sajith Sivanandan, managing director and Business Head - Google Pay and Next Billion User Initiatives, told reporters.
He spoke to reporters after announcing the rollout of the companys merchant-focused Google Pay app - Google Pay for Business - in Hyderabad.
Reacting to a query, Sivanandan said the company was in the process of working and complying with the data localisation circular (RBI's local data storage norm for payment services).
Without elaborating on the time to be compliant with data localisation norms, he said: "We are in the midst of it... and we will comply with it 100 per cent".
He further said the total number of transactions on Unified Payments Interface (UPI) in October 2019 alone crossed a billion transactions. "UPI transactions have grown 60 times in last 24 months. UPI has outpaced all other digital payment modes (by clocking) over a billion transactions which happened in October alone," he said.
Google runs digital payment services in the name 'Google Pay'. The Reserve Bank of India (RBI) had earlier directed all global payment companies to store transaction data of Indian customers within India.
