Payments can be made Through WhatsApp, NPCI allowed to launch UPI Based System in India:Now you will also be able to pay through the instant messaging platform WhatsApp. The National Payments Corporation of India (NPCI) has approved WhatsApp to launch the UPI-based payment system. The instant messaging platform has been testing the payment method for two years, but the case was pending regarding privacy.
On behalf of Facebook, there were talks about launching the Government of India on WhatsApp. However, it is now approved. A press release was released on Thursday by the National Payments Corporation of India. It said that the approval of Go Live for WhatsApp payment system has been given.
Payment Models Allowed to Live Phase Wise
According to this, phase wise permission has been given to live the payment model of WhatsApp. That is, it will be made live in many different phases. Initially the company has been allowed to have 20 million UPI user base, but later it will be expanded to graded manor.
Paytm will get a tough competition
Explain that with the introduction of this service, Paytm, Google Pay and Phone Pay will get a tough competition in the digital payment market. Currently there are more than 45 third party apps offering UPI based payments services including Google Pay, Amazon Pay, Flipkart and Phone Pay. Apart from this 140 banks like Paytm Payments Bank, Airtel Payments Bank and Axis Bank also offer these services.