WhatsApp to expand payment service to 100 mln Indian users

Thursday 14 April 2022 13:27 CET | News

The National Payments Corporation of India (NPCI) has approved instant messaging platform WhatsApp to extend its payments service to 100 million users in India.

The US-based platform was previously allowed to rollout the WhatsApp pay service to 40 million users in the country. The app started providing its instant payment service in India in 2020 but it struggled to expand the offering due to confusing regulatory pushback. 

WhatsApp currently counts for over 400 million users nation-wide and is the most popular smartphone app in India but is yet to gain popularity in the instant payment sector as rivals Google Pay and Walmart-backed PhonePe cover 70% of the UPI market share. 

With the new expansion granted by the UPI, WhatsApp can now reach more people and enhance its mobile payment offer by introducing new features and facilitating online and offline payments. Moreover, NPCI is looking to enforce a rule that ensures no single payments app processes more than 30% of all UPI transactions in a month, a requirement that could negatively impact Google Pay and allow WhatsApp to further develop.

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Keywords: payment processing, mobile payments, mobile money, instant payments, regulation
Categories: Payments & Commerce
Companies: Google Pay, NPCI, UPI, WhatsApp
Countries: India
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