Google Pay is a safe and secure application as the app makes sure your card details are kept on secure servers. Google Pay does not store complete information on your device and does not disclose any of your financial information with merchants when you use Google Pay.
When a customer makes a transaction, it appears as a pending payment in your app, which can help you detect suspicious activity sooner. This alert will show both where the transaction took place and the name of the business, and how much was spent or refunded to you.
Compared to typical payment processing, Google Pay uses tokenization, where your actual card information isn’tisn’t available to the merchant. Tokenization is a data security tactic that shields your sensitive information and makes it invulnerable to cyber-attacks.
Before completing any transactions, Google Pay will require that you verify every purchase using your security code – so if it does not come up automatically – type it in.
Recommended: Virtual Payment Address (VPA) – What is VPA in UPI?
This is one of the vital steps for keeping yourself safe from fraud or theft, so do not skip it.
Google Play stores all your details on your google account. So if you lose your device, you can revive or delete your account from another device. All the details of customers are stored in highly encrypted servers. Google does not sell users’ sensitive information to any third-party app. Read Google’s Policy.
Google Pay is recognized by the NPCI (National Payments Corporation of India) as a third-party service provider. NPCI regulates every transaction made by the Google Pay application.
How to keep your Google Pay Account Safe?
To keep your Google Pay account safe, readers may follow these precautions:
- Make sure you have turned on the 2‑Step Verification security feature. 2‑Step Verification is a popular and effective security feature that blocks almost 99% of cyber attacks on your account.
- You can use a strong password with special characters.
- Never ignore security alert emails or SMS from Google.
- Never share your OTPs, Google Pay details such as MPIN or Passwords.
- In case of a losing device, block your mobile number and Gmail account. You can delete your Google Pay account using your Gmail account. Using the Find My Device feature, you can lock your device.
- Do not pay for buggy and phishing websites using your Google Pay app.
- You can also avoid using public wi-fi networks on your device, as most public networks are prone to cyber-attacks.
Recommended: How to Remove Card Details from Google Pay?
Google Pay Controversies
In 2018, the Indian UPI payment app Paytm accused Google Pay of selling users’ confidential to other group companies. Paytm spokesperson raised their concerns on customer security on behalf of Paytm company. He wrote a letter to the NPCI chief about how Google LLC has a history sheet and direct policies on sharing their customer’s data to the group companies. However, Google denies every allegation. Google stated that they are obligated to protect users’ banking data such as credit and debit card data, login details, and every consumer’s rights.