WhatsApp Payments gets permission to double user base in India

WhatsApp has received the permission to expand its user base of payment service to 40 million in India. The Unified Payments Interface(UPI)-based payment service has been granted permission by National Payments Corporation of India (NPCI) to double its user base.

The NPCI has listed WhatsApp in the list of third party applications. However, it comes an asterisk which claims that the app is allowed a maximum registered user base of forty (40) million in UPI.

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According to the NPCI listing, WhatsApp will use ICICI Bank, Axis Bank, HDFC Bank and State Bank of India as the payment service provider (PSP) to provide UPI facility.

WhatsApp aims to compete with the likes of Google Pay and Phone Pe and it expects its 400 million strong user base to help achieve the 40 million target. WhatsApp Payments has been pioneered in India by the Meta-owned organisation. The company had to go through the new data-localisation rules implemented by the Indian government.

WhatsApp Payments allows users to setup UPI within the application and once it is setup, the user will be able to send money within a chat using a process that is almost as easy as sending an image on the instant messaging platform.

NPCI has listed a total of 21 third party applications on its website, which are allowed to make use of UPI technology. Other prominent names include, Google Pay, PhonePe, Amazon Pay, Bajaj Finserv Direct, Mi Pay, Just Dial, MakeMyTrip, Samsung Pay and more. Additionally, ten banking apps have also been listed as compatible with UPI.

According to a PTI report, Manesh Mahatme, the director of payments at WhatsApp India, said the company is looking forward to expanding its user base.

“Since our initial approval from NPCI, we have been working to deliver a simple, reliable, and secure experience for WhatsApp users that we hope will accelerate adoption of UPI for the ‘next five hundred million’ Indians,” Mahatme said.

“Over the next 6 months, we have planned significant investments in payments on WhatsApp- across India – including many more ‘India-first’ features – that we are sure will accelerate our growth,” he added.

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