WhatsApp gets green chit to rollout UPI payment service in India

This was mentioned in an affidavit, which was filed by RBI in June, stating that it was satisfied with WhatsApp’s compliance with data storage rules and can bring Unified Payments Interface (UPI) to everyone.

By: HT TECH
| Updated on: Aug 03 2020, 16:35 IST
New features coming to WhatsApp on iOS.
New features coming to WhatsApp on iOS. (Bloomberg)

It looks like Facebook's WhatsApp is all set to introduce its payment services in India. The UPI payment feature was a part of beta testing until recently. As per a report from Live Mint, the instant messenger app may join hands with National Payments Corp. of India (NPCI). It is said to have met the data localisation requirements as well. This was mentioned in an affidavit, which was filed by RBI in June, stating that it was satisfied with WhatsApp's compliance with data storage rules and can bring Unified Payments Interface (UPI) to everyone.

“We would like to confirm that WhatsApp has satisfied the data localization requirements based on Cert-In auditor's reports and we hereby are giving ICICI Bank (payment service provider bank for WhatsApp) the approval to go live," stated the affidavit submitted by RBI.

You may be interested in

MobilesTablets Laptops
23% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Vivo X100 Pro 5G
  • Asteroid Black
  • 16 GB RAM
  • 512 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Also read: WhatsApp to partner with more Indian banks in financial inclusion push

Also read
Looking for a smartphone? To check mobile finder click here.

In case you aren't aware, the local data storage rule by RBI is that companies should store the payments data, information on payments, settlement transaction, customer data and more in India itself.

“We understand NPCI is satisfied with WhatsApp's compliance with RBI's payments guidelines on data localization. Our team has worked hard to meet these standards over the last year," the spokesperson said to Mint. The instant messenger is however, still waiting to get a formal confirmation from NPCI to begin its UPI-based payments system in India.

Just last month it was reported that WhatsApp is planning to team up with Indian lenders to expand banking services in rural areas and for those with low income. It has already partnered with ICICI and HDFC Bank for this.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 03 Aug, 16:34 IST
NEXT ARTICLE BEGINS