new Delhi12 minutes ago
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WhatsApp has also published a demo picture of the payment in its blogpost.
- Payment service will start with 2 crore users
- Other WhatsApp users will get updates gradually
WhatsApp has started its payment service in the country from today. The company has given this information through a blogpost. The National Payments Corporation of India (NPCI) has approved WhatsApp to start UPI based payment service on Thursday evening itself. WhatsApp is Facebook’s subsidiary company.
Payment service will be available in 10 regional languages
After getting approval from NPCI, Facebook CEO Mark Zuckerberg issued a video statement saying that WhatsApp’s payment service will be available in the WhatsApp version of 10 regional languages. Zuckerberg said that no payment will be levied for payment through WhatsApp. WhatsApp has more than 400 million users in India. The company had been waiting for approval to start a payment service for the last 2 years. WhatsApp was testing the payment service through about 1 million users.
Customers of more than 140 banks will be able to pay
Mark Zuckerberg said that customers of more than 140 banks will be able to pay their friends and family through WhatsApp. He said that WhatsApp payment is completely secure. Paying through WhatsApp will only require a UPI enabled debit card and you will be able to pay directly. According to Zuckerberg, the payment feature will begin to be available in the new update of WhatsApp. WhatsApp said that for this service, a partnership with ICICI Bank, HDFC Bank, Axis Bank, State Bank of India (SBI) and Jio Payments Bank has been done.
2 crore users will start
NPCI has said that WhatsApp can start the payment service with 2 crore users. There is a steady increase in payments through UPI in the country. In October, 2.07 billion transactions were done through UPI in the country. This led to 1.8 billion transactions through UPI in the previous month ie in September. NPCI was established as an umbrella organization in 2008 to operate the retail payment and settlement system in the country.
Users will get updates gradually
WhatsApp’s payment service is being rolled out gradually. Keeping in mind the guidelines of NPCI, users are gradually being given an update of the payment service. Initially, not all users will get payment service updates.