WhatsApp Pay gets approval from the government, may be launched soon

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WhatsApp Pay service was till now available in the testing phase for some select users in India. Now the instant messaging app has been licensed in India by the National Payment Corporation of India (NPCI). According to media reports, now the company can release WhatsApp Pay service for all users in India in a phased manner. Through this payment service, users can make digital transactions using the Unified Payment Interface (UPI) of the Government of India from within the app. Facebook-owned instant messaging app WhatsApp had released this payment service as beta testing for about 10 lakh users in 2018, but due to delay in regulatory approval, the service could not be extended to all users.

Now according to the report of Business Standard, on whatsapp It will be extended to approximately 10 lakh users in India through the first phase. Company for WhatsApp Pay NPCI This license was received on Thursday after a long wait.

Let us tell you that after the full release of WhatsApp Pay service, it will become one of the largest mobile payment services in India. behind this whatsapp Is to be used on a large scale in India. Let us tell you that at present WhatsApp is being used in India. More than 40 crore users We do.

The company launched WhatsApp Pay service as a testing mode in February 2018. Users using this mode have a ‘payment’ option within the app, through which users can make UPI based transactions from within the app.

Last week, Facebook CEO Mark Zuckerberg told analysts that WhatsApp Pay would be rolled out in multiple countries in the next six months. The reason behind the delay in the release of WhatsApp Pay service has been attributed to the concerns of the Government of India and the Reserve Bank of India (RBI) regarding some features of WhatsApp. Cyber ‚Äč‚Äčanalysts had even called WhatsApp Pay a threat to the Indian digital banking ecosystem. However, now after getting the license from NPCI, the company has got rid of all the problems and now WhatsApp users in India will soon be able to transact money through their app.

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