WhatsApp Starts Rolling Out Payment Service in India
WhatsApp on Friday announced that it is starting its own payment services throughout India, reports Techcrunch.
The Facebook-owned service said it is launching the payments in 10 Indian regional languages in the latest version of WhatsApp on Android and iOS. The announcement came hours after the National Payments Corporation of India said it had approved to roll out UPI-powered payments in India.
People across India from now will be able to send money through WhatsApp. This secure payment experience makes the transfer of money just like a message is sent. People can now send money easily to anyone from a distance. They don’t need to exchange cash in person or go to a bank.
WhatsApp, which has more than 400 million users in India, will compete with others like Paytm, Google Pay, Walmart-owned PhonePe, and Amazon Pay in the country’s market.
Like other companies — Google, Samsung, and a number of other companies — WhatsApp has built its payments service atop UPI. The UPI service is a payment infrastructure established by a coalition of large banks in India.
WhatsApp said on Friday it has been working with India’s five banks. The banks are ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank.