WhatsApp gets NPCI green signal for UPI payment 2020

WhatsApp gets NPCI green signal for UPI payment, will soon be able to send money to Anyone | Whatsapp Pay Feb 2020 | Techz Auto

Users can use WhatsApp Pay service from within the app itself. In this, users will be able to transact money through UPI from inside the app. Once completely released, WhatsApp will become one of the largest mobile payment services in India.

WhatsApp gets NPCI green signal for UPI payment, will soon be able to send money to Anyone | Whatsapp Pay Feb 2020 | Techz Auto

The WhatsApp Pay service was till now available in the testing phase for select users in India. Now the immediate messaging app has been licensed in India by the National Payment Corporation of India (NPCI). According to media releases, now the company can release WhatsApp service to all users in India in a phased manner. Through this payment service, users can make digital transactions from within the app using the Unified Payment Interface (UPI) of the Government of India. Facebook-owned instant messaging app WhatsApp released this payment service in beta testing in 2018 for around 1 million users, although due to delays in administrative approvals, the service could not be extended to all users. Now according to Business Standard's report, WhatsApp Pay will be delivered to about 1 million users through the first phase in India. The company got this license of NPCI for WhatsApp Pay on Thursday after a long wait. It will display one of India's largest mobile payment service after the WhatsApp Pay service is fully released. What is behind this is the widespread use of WhatsApp in India. Let us know that more than 400 million users use WhatsApp in India at this time. 

The company launched the WhatsApp Pay service as a testing mode in February 2018. Users using this method have a 'payment' option inside the app, through which users can make UPI-based transactions from within the app itself. Last week, Facebook CEO Mark Zuckerberg told analysts WhatsApp Pay will be released in several countries in the next six months. The reason behind the delay in the release of WhatsApp Pay service has been conveyed to the Government of India and the Reserve Bank of India (RBI) about the concern over some of the features of WhatsApp. Cyber ​​analysts have even called WhatsApp a threat to the Indian digital banking ecosystem. However, now after getting a license by NPCI, the company has got rid of all the problems, and now WhatsApp users in India will soon be able to accomplish money through their app.

Explain that this is the first time NPCI has allowed a multi-bank partnership for payment to a mobile app. However, no information has yet been received as to when this feature will be given in WhatsApp. Explain that earlier True Collar and Hike are providing UPI payment service in India.