Payments on WhatsApp go live in India

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The roll out was delayed after regulators demanded that data from the service should be kept separate from other data owned by the company, and be hosted in India rather than the US.

The live launch came after the NCPI granted approval for WhatsAppc to expand its UPI user base "in a graded manner" starting with a maximum registered user base of 20 million in UPI. WhatsApp, like Google Pay or PhonePe, sends instructions to banks, also known as payment service providers, that initiate the transfer of money via UPI between sender and receiver bank accounts.

Payments are available in ten Indian regional language versions of WhatsApp.

Indian institutions ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank will all support the service. "With so many people in India engaging through WhatsApp, we just think this is going to be a huge opportunity for us to provide a better commerce experience for people, to help small businesses and the economy there, and to build a really big business ourselves over time", Zuckerberg said.

"India is the first country to do anything like this", said Zuckerberg of the network.

Popular instant messaging app WhatsApp on Friday rolled out its UPI payment services in India after being stuck in the beta mode for more than two years.

India's UPI processed more than two billion transactions in October and 1.8 billion the previous month. "RIL's foray into the space leveraging its large offline distribution capabilities, and integration of ability to order groceries through WhatsApp, a platform with 400 mn MAUs in India", said a Goldman Sachs report.

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Download and install the latest version of Whatsapp.

How to activate WhatsApp's Payment feature on the app?

Then tap on the three vertical dots icon on the top right corner. The options they will have at their disposal, to comply with the guidelines, include limiting new sign-ups depending on the transaction share on a rolling basis, or limit person to person transaction volumes.

" Digital payments in India is still in its infancy and any interventions at this point should be made with a view to accelerate consumer choice and innovation". The selected bank should be the one that is linked with the phone number of the user. Once enabled, users can send money to their contacts by entering the payment window.

That's it tap on Done.

Whatsapp Pay allows people to send and receive money through the messaging platform.

The company has been entangled in legal and regulatory tussles with entities including RBI, NPCI and even the Ministry of Electronics and Information Technology to launch its UPI-based payments service to its entire customer base.

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