Guys,
I have been a very frequent user of UPI since it's inception and have been using apps like PhonePe/Google Pay to do most of the money transfers. I went to an extent of scolding ICICI reps for limiting the transaction amount to a lower amount than the thrid party UPI apps like Google Pay than iMobile (Native ICICI app). But a recent incident changed my perception, especially towards Google Pay.
On 07-Jan-2019, I had to pay 2262 rupees to milkman, and as I normally do I used Google Pay. The transaction did not go through and stuck in "Processing". After waiting for 10 minutes, I initiated another transaction for same amount and this also was in "Processing" for 5 minutes and then finally succeeded. At this point, I thought as the 1st transaction did not go through, the money will be refunded back. Google indicates 3-5 business days in the transaction page for the refund. I waited for a week and there was no sign of refund. Then I went into the transaction again and raised a dispute. When I submitted the dispute, Google indicated the dispute is usually settled in 10 days. I waited, and even after waiting for 10 days, I didn't get any update on the refund.
I checked for methods of contacting Google Pay customer care and there is a way to request a call back from the Help menu within the Google Pay app. I used that and instantly received a call from a US number, but no one spoke. I tried this several times, and the same thing happened, instant call back and no one talks on the other side. I kept trying for a couple of days and finally yesterday, I received the call back from an Indian number and this time there was a rep on the other side that I could talk to. I explained him the issue, he listened to me and took the transaction ID and checked from his end. I thought things would be set. He then asked my bank statement and the recipient's bank statement from the transaction date till date showing these transactions. I told him I can give my bank statement, but not the recipients, as he is just a milkman and asked him why do they need this. He said,
Google Pay currently does not handle anything from their end, they are just using NPCI's UPI technology as a facilitator to process the money transfers. And they don't even seem to set any time period after which the transaction times out and comes to failed status. They just keep waiting for response from the sender/receiver bank. So, if any transaction is stuck, we will be in a soup and need to struggle to get our money back. This is absolutely ridiculous. I strongly recommend not to use Google Pay for doing any money transfer above 1000 (Basically for any amount you can't wait to get back in case of a failed transaction). If you still use it, use it at your own risk. I'm not sure if other apps like PhonePe are also doing the same thing or they follow a different flow.
Below is the email I received from Google Pay asking the bank statements.
I have sent them my bank statement and awaiting their response.
Be very very careful with these apps!!
