Google Pay used to be Tez earlier. Google has announced a major change in its payment app. This change is best in terms of privacy. With the Google Pay app, users will soon be able to delete their transaction history.
With the arrival of this update, the user will have more control over the transaction history of Google Pay. This feature is being brought to prevent private data from being misused. It will not be released to the merchant.
With this feature of Google Pay, users can delete or tokenize their last 10 UPI transactions. With this, Google will not be able to get access to these transactions. A credit card or debit card is a tokenized process by which sensitive data is removed from the company’s internal network.
In this, the data is replaced with any other data. For example, suppose your card number is 1234-5678-9012-3456. After converting it into a token it will become something converted as encrypted digits. Because of which your data will remain secure.
Apart from UPI, the company will also allow the user to conduct contactless card transactions. For this also, tokenized debit or credit card will be used. Which will be linked to their smartphone. After the new update of Google Pay, users will also be able to delete the history of such transactions Google will store only those data which will be necessary for the transaction.
As per Indian law, Google is a third party intermediary. For this reason, the licensed payment system cannot function like a provider. Most UPI apps cannot manage funds because of this law. Their role is to facilitate only transactions. According to the January report, Google-Pay was second in the country after 853 million transactions, after phone-pay. There were 968 million transactions over phone-pay.