WhatsApp’s payment service focused on UPI’s, WhatsApp Pay, will be introduced shortly in India. The organization is ready to increasingly expand its business in the region.
The organization has been granted a payment service license from the Indian National Payments Corporation (NPCI). The Reserve bank of India (RBI) managing director told Business Standard that the National Payments Corporation of India (NPCI) has given WhatsApp permission to operate its digital payment service phased in. The study also stresses that WhatsApp should introduce payment solutions for 10 million users across the world in the first step.
The study said that the communications application can be introduced as long as the pending enforcement points are completed. WhatsApp Pay would give Google Pay, PhonePe, Amazon Pay and Paytm a direct competition in this direction. WhatsApp has more than 400 million users today.
In the past, the organization encountered some obstacles for its next operation as a few concerns were posed by the Indian government. RBI’s thoughts on whether remote-controlled payment solutions breach laws have been questioned by the Government. The article states that earlier this month when a WhatsApp executive met officials of the Ministry of Electronicology and IT (MeitY) the Indian government sent this notification to the messaging app.
In the meantime, the organization has announced that it is taking legal action against those entities that deliver automatic or bulk communications to consumers. The business sues individuals or companies who use bulk communications on the urgent communication platform. The organization also stated that it breaches the Terms and Conditions to deliver bulk messages.