WhatsApp India to launch WhatsApp Payments very soon
GUWAHATI: WhatsApp will soon introduce WhatsApp Payments in India as it has completed the audit process of the related data practices and is now awaiting approval by the Reserve Bank of India (RBI).
Based on a report by India Today, the messaging company’s Indian users will be able to use the app for transferring money to their family and friends.
It should be noted that earlier in February of last year, WhatsApp had come up with WhatsApp Payments to a select user base of 1 million users in India,but had run into regulatory problems with RBI in regard to storage of payment-related data.
WhatsApp after it refused to comply with the RBI’s norms initially, had decided to meet the guidelines set by the Central Bank earlier this year.
The Facebook-owned messaging company in a statement also mentioned that it was gearing to provide the payment service on UPI standard to all users in India, is expected to partner with ICICI bank and then later, add other banks such as Axis Bank, SBI and HDFC bank as partners.
File photo of WhatsApp