Whatsapp Digital Payment System : WhatsApp will reportedly launch peer-to-peer payments in India within 6 months | India is gradually increasing its steps towards digital and cashless India. In the same episode, the What’s App is preparing to launch its digital payment system in India. According to the news, this payment system will be based on the Unified Payments Interface (UPI). It is being said that it is expected to be launched by the end of this year.
Whatsapp Digital Payment System
According to the report of ‘De Can’ website, talks are in talks between the What’s App and NPCI (National Payment Corporation of India) for Digital Transaction Business. The company is looking for a person who has expert knowledge in the base, the UPA and the Bhima App. The company has also removed the advertisement for this job. It was also reported in the report that this service will be user-to-user based and can be launched in the next 6 months.
In a chat with the website, What’s App spokesperson said, “India is an important country for what’s app and we are thinking about how to contribute to Digital India Vision.”
WhatsApp to roll out UPI-enabled payments service
Let’s say that a few weeks ago, What’s App Founder Brian Acton had visited India. Here he also met the government officials. Following the ban in December 2016, users of PayPal and Mobikwik, such as Payment Wallet applications, saw a substantial increase.
Facebook-owned Whatsapp is the largest digital communication platform in India. In India, the What’s App’s 20 million users is the largest market for this company. Earlier, VChat of Tensent Holdings Limited in China has also introduced digital payment.
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There are 1.2 billion active users worldwide. Kane has cited sources saying thatWhitsap’s payment system will be mobile wallet.
In November, after the ban on Prime Minister NarendraModi’s note of 500 and 1000 rupees, an increase in digital transactions has been recorded in India. After the ban, the government introduced a service like Bhima App for cashless facility. In addition to promoting cashless service and digitization, new features and facilities were introduced by many mobile wallet apps and digital payment apps. In the same category, Samsung has also launched its popular digital service Samsung Pay in India.