The messaging app said in a blog post that WhatsApp started its payment service in India on Friday. On Wednesday evening, WhatsApp received NPCI authorization to ‘Go Live’ on UPI in a graded manner. For more than two years, WhatsApp, which counts India as its largest market with more than 400 million users, has been running a peer-to – peer payment service with limited users, awaiting regulatory approval.
“Payments are now available for WhatsApp in 10 Indian regional language versions,” said Mark Zuckerberg, Facebook CEO, in a video statement. WhatsApp said it had partnered with five Indian banks for the service, namely ICICI Bank, HDFC Bank , Axis Bank, India State Bank, and Jio Payments Bank.
With a maximum of 20 million users, WhatsApp will initially start scaling up the service, the National Payments Corporation of India (NPCI) said on Thursday. We are excited to join the campaign by India to increase the ease and use of digital payments, which aims to extend India’s financial inclusion, “said WhatsApp in the blog.” According to NPCI, UPI handled over 2.07 billion transactions in October, up from over 1.8 billion the previous month.