Categories: Business

India’s payments body approves WhatsApp’s plan to extend its payments service to 60M additional users in India, allowing WhatsApp Pay to reach up to 100M total (Indian Whatsappsinghtechcrunch)

Indian Whatsappsinghtechcrunch: The National Payments Corporation of India (NPCI) has approved WhatsApp’s plan to extend its payments service to 60M additional users in India, the company announced. The move is in line with the NPCI’s objectives and positions, and will allow WhatsApp Pay to reach up to 100M total.

WhatsApp plans on rolling this out gradually over time with input from Indian authorities. WhatsApp is currently tied up in a legal battle with India’s central bank, which has demanded that the company register as a payment services provider. The company says it will comply and register when the RBI sets out clear guidelines for implementing its new payments framework.

As part of the new rollout, WhatsApp will replace USSD and short code-based payments with Aadhaar-linked payments on USSD and mobile apps. Further, all payments will be routed through WhatsApp Payments Bank Limited. The NPCI is responsible for developing national payment systems and infrastructure in India.

WhatsApp is currently battling the Indian government in court over its decision to force the company to share user data with law enforcement.

Source : TechCrunch Author : Nitish Kashyap Source Link : CLICK HERE Permalink : India’s payments body approves WhatsApp’s plan to extend its payments service to 60M additional users in India, allowing WhatsApp Pay to reach up to 100M total

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Leonardo, a visionary entrepreneur and digital innovator, is the proud owner and mastermind behind chatonic.net. Born and raised in the heart of the Silicon Valley, he has always been fascinated by the potential of technology and its ability to transform the way we communicate and interact with one another.