WhatsApp UPI user base is all set to see huge jump. More WhatsApp users will be able to make transaction through Unified Payments Interface (UPI) soon as the National Payments Corporation of India NPCI has approved an additional 60 million users on UPI for WhatsApp. With this approval, the messenger will be able to expand its services to 100 million users.
‘With this approval, WhatsApp will be able to expand the service to its 100 million (10 crore) users,’ the National Payments Corporation of India said, announcing the decision.
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Incorporated in 2008, the UPI is a retail payment method via digital mode. The NPCI is the umbrella organisation for operating retail payments and settlement systems in India. It has created a robust payment and settlement infrastructure in the country and changed the way payments are made through a bouquet of retail payment products such as RuPay card, Immediate Payment Service, Unified Payments Interface, Bharat Interface for Money, BHIM Aadhaar, National Electronic Toll Collection and Bharat BillPay.
The NPCI is focused on bringing innovations in retail payment systems through the use of technology. It is facilitating secure payment solutions with nationwide accessibility at a minimal cost in furtherance of India’s aspiration to be a fully digital society.
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WhatsApp competes with Alphabet Inc`s Google Pay, SoftBank- and Ant Group-backed Paytm and Walmart’s PhonePe in India`s crowded digital market.
