WhatsApp Pay will soon be introduced in India after Facebook Inc on Thursday received launch permission from the National Payments Corporation of India (NPCI).
“The National Payments Corporation of India (NPCI) has granted WhatsApp permission to operate its digital payment service in a phased manner,” reported Business Standard quoting an anonymous RBI executive to Business Standard on Friday.
“NPCI’s approval comes after permission from the Reserve Bank of India (RBI) and in its first phase, the service will be offered to 10 million customers in India,” the
report added.
WhatsApp Pay was first introduced in India in February 2018 in partnership with the ICCI Bank. The trial run, however, failed to rollout due to regulatory blocks.
WhatsApp Pay will give stiff competition to market giants like Google Pay, Paytm, PhonePe and Amazon Pay.