WhatsApp Pay

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WhatsApp Pay set for phased roll out in India; granted NPCI licence
In a major development, WhatsApp will be able to roll out its digital payment platform, WhatsApp Pay, across India after securing a key regulatory approval on Thursday.

“The National Payments Corporation of India (NPCI) has granted WhatsApp permission to operate its digital payment service in a phased manner,” a Reserve Bank of India (RBI) executive told Business Standard on Friday. The official didn’t want to be quoted.

The NPCI’s approval came days after the RBI’s go-ahead. WhatsApp has assured the regulators that it will comply with the data localisation norms – a key factor behind the delay of the WhatsApp’s payment service launch.
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The Biggest Payment Platform everyone with 400 million guaranteed users.
 
Damn. Businesses ab whatsapp pe request bhejenge...
 
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Kya bakwaas hai. Ek department approve karta hai. And dusra will think about getting it banned or just fine them absurd amount and get rich.
 

the absurd thing about this is that npci is the monopoly here. upi has basically become the primary standard for online payments in india. whatsapp has no option but to use upi on their platform. not sure how them using upi as a payment option inside the app is anti competitive. as long as they support sending/receiving funds from third party VPAs.

and of course, with facebook investing in jio... this would probably be history soon.
 
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they are rolling it out to 20 million people initially.

m-timesofindia-com.cdn.ampproject.org

WhatsApp Pay finally gets nod to launch with 20 million users - Times of India

After being stuck in beta mode for over two-and-a-half years, popular messaging platform WhatsApp has got the regulatory approval to launch on Unified Payments Interface (UPI) in a ‘graded manner’ where it can expand to maximum 20 million users initially. So far, it was restricted to 1 million...
m-timesofindia-com.cdn.ampproject.org m-timesofindia-com.cdn.ampproject.org
 
www.gadgetsnow.com

Here's how Google Pay, PhonePe and other UPI apps may change after new NPCI rule

There will be a 30% transaction volume cap on the number of transactions one UPI app can process to protect the “UPI ecosystem”. If there’s a restriction on the number of transactions, it goes without saying there will be more failed transactions and also market leaders like Google Pay, PhonePe...
www.gadgetsnow.com www.gadgetsnow.com
This tries to explain how it affect the users, looks like installing more UPI apps will be required 🤦‍♂️
 

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