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WhatsApp Pay goes live in India with four banks

Thursday 17 December 2020 09:42 CET | News

Fraud Prevention in Ecommerce Report 2020 / 2021

Instant messaging platform WhatsApp has gone live with its payments offering in India with four banks: State Bank of India, ICICI Bank, HDFC Bank and Axis Bank.

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WhatsApp will now offer Unified Payments Interface (UPI)-based payments to its users. It was given permission to go live in November 2020  by the National Payments Corporation of India, the country’s flagship payments processor that operates UPI.

NPCI has kept a cap of 20 million users on WhatsApp Payments but that will be eased over a period of time.

The entry of WhatsApp into the payments arena is a watershed moment for the platform in its quest to be a ‘superapp’. WhatsApp will start with payments and then foray into larger financial services.

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Keywords: WhatsApp Pay, UPI, NPCI, mobile payments
Categories: Payments & Commerce | Mobile Payments
Countries: India
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