Insta
Major Push For ‘WhatsApp Pay’ As NPCI Gives Nod For Expansion Of Service To 10 Million Users In India
A phone displaying a WhatsApp logo over another device’s Facebook logo. (representative image) (Photo Illustration by Justin Sullivan/Getty Images)
In a major development for the Facebook-owned instant message service provider WhatsApp which is looking to launch it's digital payments initiative based on United Payment Interface (UPI), the company has received the crucial nod from the National Payments Corporation of India (NPCI) to expand its services to 10 million users, reports Economic Times.
The major development was made public by Nandan Nilekani when he was speaking at an IIT Industry Conclave. Nilekani is known as the revered architect of the Aadhaar database and the UPI.
It should be noted that the social media major Facebook has been running a pilot of its WhatsApp Pay service with one million users across India. However, the company has been struggling to attain a licence to launch full-fledged services across the nation.
WhatsApp has more than 400 million users in India who make the messaging service's largest market worldwide. Once launched in this market on a full-fledged basis, Whatsapp Pay will compete against other industry giants like Alibaba backed PayTM, Google's G-Pay and Walmart owned PhonePe.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
