FinTech: Indian FinTech Paytm Takes On Google, Alleges “Arm-Twisting”

September 21, 2020 | FinTech, News
https://dailyalts.com/wp-content/uploads/2020/09/1_luMSPGFDXVskXkqfW0TGUw-Paytm.jpeg

Paytm was removed temporarily from the Play Store allegedly because it violated rules related to gambling.

Paytm, a major Indian payment app and fintech, said Friday that its app had been pulled from the Google (NASDAQ: GOOGL) Play Store because its recently launched “Paytm Cricket League” was allegedly violating policies regarding gambling.

The Play Store said: “Your app contains content that doesn’t comply with the Gambling policy as it offers games with “loyalty” (e.g. engagement or activity) points that (1) are accrued or accelerated via real-money purchases which (2) can be exchanged for items or prizes of real-world monetary value.”

On Sunday, Paytm hit back with a strongly worded, and a detailed, blog post on the fracas. It alleged that Google arm-twisted the company to remove a UPI cashback scheme. (The Hindu)

“Unjustified”

Paytm said that Google Play Store unjustifiably removed its app from the Play Store and arm-twisted it to remove a UPI cashback scheme. It said that the Play Store’s own digital payment app, Google Pay, has been running a similar promotion.

“We maintain that our cashback campaign was within guidelines, as well as all laws of the land. We did not break any rules and there was no violation. It is not related to gambling in any manner whatsoever,” Paytm said.

“This will be familiar to all Indian internet companies since they face similar arm-twisting and fear of Google’s dominance over India’s digital ecosystem every day,” Paytm added.

Paytm also alleged that “contrary to accepted practice, we were not given any opportunity to respond to the concerns or put forth our views.”

Google Pay runs similar campaigns

Paytm went on to say that Google’s own payment app, Google Pay, regularly ran similar campaigns in India. Specifically, it pointed to the latter’s “Tez Shots” campaign, which clearly said: “Score runs on assured rewards worth up to ₹ 1 lakh.”

Paytm said sarcastically: “Presumably, such cashback campaigns of Google Pay are not in breach of Play Store policies, or maybe they are, but a different set of rules apply to Google’s own apps.”

Bigger question

Paytm’s punch line:

“There is a bigger question here that the Indian startup ecosystem and developers should think about. As a startup, we are running law-abiding businesses and building for India. Google and its employees are making policies which are over and above the laws of our country, and are arbitrarily implementing them.”

Related Story:     Ant Financial Looks to Inject $1 Billion into Asian Tech Startups                                              

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…