Google has reportedly updated the privacy policy of its Indian digital payments application Google Pay, days after the homegrown rival Paytm complained that the tech giant’s platform allowed disclosure of customer data for advertising and other purposes.
In a letter to the National Payments Corporation of India (NPCI), Paytm complained that Google Pay’s privacy policy amounted to “clear disregard for a consumer’s need for privacy”. Google Pay’s privacy policy had stated that it could “collect, store, use and/or disclose” personal data and “any communications made through Google Pay”.
Further, Google stated that it had updated its privacy policy and dropped the word “disclose” from its privacy clause. Also, it stated that the changes were made to make it easier for customers to understand their monetisation and data usage policy.
“These changes are done from time to time and are based on product features and development,” a Google spokesman said.
Paytm’s letter to NPCI indicates the increasingly fierce competition in India’s digital payments market and how these companies are fighting against each other. The digital payments market in India is expected to grow five-fold to $1 trillion (roughly Rs. 72.2 lakh crores) by 2023.