WhatsApp payment service got approval from the National Payments Corporation of India (NPCI) on Thursday to go live on Unified Payment Interface (UPI) in the multi-bank model after two years of testing.
As per NPCI, starting with a maximum registered user base of 20 million in UPI, WhatsApp can expand its UPI user base in a graded manner.
Advertisement
Right now the Facebook-owned private messaging app is used by over 400 million users in India.
The move comes after NPCI in August had informed the Reserve Bank of India that WhatsApp had met data localisation requirements.
Advertisement
Brazil became the first country to roll out the WhatsApp payment service in June.
In India, the WhatsApp payment service will compete against other major players like Google Pay and PhonePe, among others...
Advertisement
