WhatsApp on Friday said it is rolling out its payments services in India after receiving nod from the National Payments Corporation of India (NPCI).
In 2018, the Facebook-owned company had started testing its UPI-based payments service in India, which allows users to utilise the messaging platform to send and receive money. The testing was limited to about a million users as it waited for regulatory approvals to come in.
On Thursday, NPCI – which runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants’ end while making purchases – allowed WhatsApp to start its payments service in the country in a “graded” manner, starting with a maximum registered user base of 20 million in UPI.
It added that the payments feature has been designed in partnership with NPCI using UPI, an India-first, real-time payment system that enables transactions with over 160 supported banks.